Barclays Libor-Rigging Jury Reaches Verdict on Three Defendants

  • Jury sent note to judge saying it’s struggling on final two
  • Judge told jury Thursday it could deliver 10-2 verdicts

Jurors in the trial of five former Barclays Plc traders accused of rigging Libor said they’ve reached a decision on three of the defendants but are struggling to get a verdict on the final two, according to a note sent to the judge.

Judge Anthony Leonard described the jury’s note to the court Tuesday before sending the panel home for the day. He told the jury last week that the verdicts didn’t have to be unanimous after being informed they had reached a verdict on one defendant and were at an impasse on the others. A majority verdict allows the jurors to give a verdict approved by at least 10 members rather than the full 12.

The jury has been deliberating for six days after a two-month trial in which ex-traders Alex Pabon, Stylianos Contogoulas, Jonathan Mathew, Jay Merchant and Ryan Reich were accused of conspiring to fix the London interbank offered rate, a benchmark tied to trillions of dollars in securities and loans, between 2005 and 2007. This is the first day the jury has deliberated this week after a juror was ill Monday.

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