Court of Appeal quashes rate-rigging convictions of five former Barclays traders

The Court of Appeal in London has overturned the fraud convictions of five former Barclays traders jailed for manipulating Euribor and Libor rates.

• The court quashed convictions of Jay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon and Colin Bermingham on Wednesday.
• The five were jailed between 2016 and 2019 for manipulating Euribor or Libor.
• The ruling followed the Supreme Court's 2025 quashing of the convictions of Tom Hayes and Carlo Palombo.
• The Serious Fraud Office did not oppose the appeals, saying the convictions "may be considered unsafe."