Ex-Barclays Trader Johnson Pleaded Guilty to Libor Fixingby
U.K. court lifts order preventing the reporting of the plea
Peter Johnson pleaded guilty at a U.K. hearing in October 2014
Peter Johnson, a former Barclays Plc trader, pleaded guilty in October 2014 to conspiracy to manipulate Libor, U.K. prosecutors said after lifting a court order in the case.
Prosecutors from the Serious Fraud Office disclosed the 2014 plea at a London trial Wednesday involving five of Johnson’s former colleagues at Barclays.
Banks and other financial institutions have paid about $9 billion in fines over the last few years tied to the London interbank offered rate and other key rates. More than 20 individuals have been charged in the U.S. and U.K. Libor is used to calculate more than $300 trillion of securities, including mortgages, credit cards and student loans.
Jonathan Mathew, 35, Stylianos Contogoulas, 44, Jay Merchant, 45, Alex Pabon, 37, and Ryan Reich, 34, all deny the charges of conspiracy to defraud with other Barclays employees between June 1, 2005 and August 31, 2007.
They all deny the charges. Their defense arguments are expected to begin Thursday, the judge told the jury.
Johnson’s plea was included in a list of agreed facts read to the court as prosecutors wrapped up their presentation of evidence.
Prosecutors also discussed a performance appraisal written for Mathew. One Barclays supervisor wondered whether Mathew had "big game temperament," while another said Mathew “lacks maturity” at times.