TWO TOP TRADERS CONVICTED IN EURIBOR RIGGING CASE
July 1st, 2018
Two senior bank traders have been convicted for their role in manipulating the Euro Interbank Offered Rate (EURIBOR), the benchmark to set global interest rates, between 2005 and 2009. Following a six-year investigation and prosecution by the UK Serious Fraud Office (SFO), ex-Barclays banker, Phillipe Moryoussef, and former Principal Trader at Deutsche Bank, Christian Bittar, were convicted of rigging EURIBOR by filing false submissions to change the published rate. Bittar pleaded guilty before the trial started in March and Moryoussef was convicted on June 29. ...
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