Ex-Barclays Trader Palombo Found Guilty of Rigging Euribor
- Ex-colleague, Bohart, found innocent by jury in London court
- Former traders accused of working to manipulate Euribor rate
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A former Barclays Plc trader was found guilty of manipulating a benchmark interest rate by a London jury, delivering a victory to the U.K.’s Serious Fraud Office.
Carlo Palombo was found guilty by the jury in a 10-2 verdict, and his former colleague, Sisse Bohart, was found innocent. The jury is still deliberating over a third ex-trader in the case, Colin Bermingham. The trio were charged with fraud related to the manipulation of the Euro interbank offered rate, known as Euribor.