Ex-Barclays employees jailed in Libor-rigging case
Six and a half years for Jay Merchant, the most senior official involved in the trial
- Three other former bankers convicted and given at least 33 months each
- Serious Fraud Office had pursued investigation into Libor scandal for four years
Updated : 15:52
Four bankers who worked for Barclays were given prison sentences on Thursday after being found guilty of conspiring to rig global global benchmark interest rates in the Libor scandal.
45-year-old Jay Merchant received the longest sentence of six and a half years, followed by Peter Johnson (61), Jonathan Matthew (35) and Alex Pabon (38), who received sentences between 33 months and four years.
Judge Anthony Leonard criticised the actions of the men, saying that their positions should have carried a sense of integrity.
“What this case has shown is the absence of integrity that ought to characterise banking,” said Leonard. "The jury has characterized your behavior as dishonest, as you must have known that it was."
The 4 men have been ordered to serve at least half their sentences in jail.
The former Barclays traders were all accused of conspiring to manipulate the London interbank interest rate between 2005 and 2007. Johnson pleaded guilty in 2014 while the others contested the accusations.