Two Ex-Barclays Libor Traders Cleared of Rigging Charges
- Reich, Contogoulas cleared after a day of deliberations
- Verdicts a loss for U.K. Serious Fraud Office in Libor cases
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Two former Barclays Plc Libor traders were acquitted by a London jury of manipulating the key interest-rate benchmark following a six-week trial, ending another chapter in a case that has cost firms $9 billion.
Ryan Reich and Stylianos Contogoulas were found not guilty of conspiring with others to manipulate the U.S. dollar London interbank offered rate from 2005 to 2007 after four hours of deliberations. The case was a retrial for the pair after another jury was unable to reach a decision in July.