• News
  • Technology

Four ex-Barclays traders jailed in Libor case

Four ex-Barclays traders jailed in Libor case

"The jury has characterized your behavior as dishonest, as you must have known that it was", Judge Anthony Leonard said during the sentencing.

The prosecution had claimed that Merchant was among four traders who asked Libor rate submitters, Jonathan Mathew and Peter Johnson, to put in rates that suited their trading at the daily setting of Libor.

The four manipulated the London interbank offered rate, or Libor, between 2005 and 2007. The sentence was cut to 11 years on appeal and Hayes continues to plan to appeal. Mathew, Mr. Merchant and Mr., Pabon-were convicted of conspiracy to defraud in connection with the Libor probe by a jury at Southwark Crown Court last week after an 11-week trial.

He was also ordered to pay a £114,501.19 confiscation order within 14 days or risk a default sentence of two and a half years, as well as £30,000 in costs.

Judge Leonard accepted that the scale of Hayes's misconduct, cast as a ringleader in a global conspiracy with staff from 10 other banks and brokerages to rig yen-denominated Libor over four years, was significantly different to the Barclays case.

Super-typhoon Nepartak takes aim at Taiwan
The city government said schools and offices will remain open today, although most schools are closed for the summer vacation. Heavy rain will linger through the weekend in Eastern China, which has been hit hard by recent seasonal rains.

Sixers eager to see Simmons play summer league
Despite a collection of players drafted in the lottery in recent years, Philadelphia is turning to Simmons to be the focal point. The 20-year-old Australian was the first of three first-round picks taken by the Sixers Thursday night.

Google Cast for Education lets students show their work to the class
The hope is that Google will be able to put streaming technology into schools so that it can be used for educational purposes. It also doesn't require the installation of new hardware for the teacher since it runs on their existing computer.

"From a public-interest perspective, this now means the taxpayer will pick up the bill again when our client is forced to stand trial for a second time next year, some 12 years after the alleged offending behaviour took place", he said.

A lawyer for Pabon declined to comment.

Johnson had pleaded guilty at the earliest opportunity.

The traders were dealing with "eye-watering" sums of money when they manipulated the rate between 1 June 2005 and 31 August 2007, said the prosecutor James Hines QC. It paid a then-record $450 million penalty to US and European authorities.

Leave Your Comment

Leave Your Comment


Latest News

  • Verizon expected to hike prices on plans, but offer more data

    Verizon expected to hike prices on plans, but offer more data

    This new app includes several features, including " The Feed " full of data updates , account, and bill information in one place. Now that Verizon has also added more data to the plans, it shows just how much users are becoming hungrier for data.
    TCL to bring smartphone with eye verification technology to India

    TCL to bring smartphone with eye verification technology to India

    Leaks and rumors for the devices codenamed, "Hamburg" and "Rome" have been circulating around the web for a while now. In any case, we will not k now for sure what happens until the company releases the phones next month.

    Tejano star Selena among celebs getting Walk of Fame stars

    Others actors and actress to receive the honour include Deadpool's Ryan Reynolds and former Desperate Housewife Eva Longoria. Mexican-American music legend Selena will be posthumously honoured with a star Hollywood Walk of Fame in 2017.
  • Sean Lowe & Catherine Giudici Welcome Their Son, & 'The Bachelor' Couple Is Celebrating

    Sean Lowe & Catherine Giudici Welcome Their Son, & 'The Bachelor' Couple Is Celebrating

    Proud papa Sean also posted a smiling pic with Samuel in his arms, captioning the precious moment, " my boy and me ". The couple were married in a televised wedding on ABC in January 2014 after meeting on The Bachelor.
    Roast's Symon says Trump not welcome at his restaurants

    Roast's Symon says Trump not welcome at his restaurants

    The Pittsburgh Steelers quarterback told the Pittsburgh Post-Gazette he's not endorsing Trump at the convention or otherwise. Trump staged numerous former heavyweight champion's fights at his Atlantic City, N.J., casinos in the 1980s.
    Games of Thrones villain blasts politicians over refugees

    Games of Thrones villain blasts politicians over refugees

    It's a connection that we've lost in our complacent society. "We need to re-find ourselves and not shut our doors". Three members of the Game of Thrones cast are making use of their platforms in the best of ways.
  • University of Wisconsin-Madison student missing in Italy

    Cole Solomon, Beau's 23-year-old brother, told the Milwaukee Journal Sentinel that investigators believe someone killed him. Previously, he studied at Southwest Wisconsin Technical College and University of Wisconsin-Richland.

    Rajon Rondo goes to Chicago for 2 years, $30M

    Rondo, who is seeking a lucrative deal, is drawing interest from the Chicago Bulls , Philadelphia 76ers and Sacramento Kings. In 645 career National Basketball Association games, Rondo is averaging 11 points, 8.7 rebounds and 4.8 assists.
    Oops, Taiwan Fires Carrier Killer Missile by Mistake toward China

    Oops, Taiwan Fires Carrier Killer Missile by Mistake toward China

    Taiwan accidentally fired a "supersonic anti-ship missile" (which, to be honest, sounds like a fake thing) toward China today. China considers Taiwan a breakaway state, to be reunited with the mainland, by force if needed.
  • Finding Dory Projected To Set Opening Weekend Record For An Animated Movie

    Finding Dory Projected To Set Opening Weekend Record For An Animated Movie

    ComingSoon reports that Disney/Pixar's highly anticipated FINDING DORY has set a new Thursday previews record for an animated film.

    Samsung to skip Galaxy Note 6?

    The leakster has further that it will be coming with a 12-megapixel rear camera and a front-facing shooter of 5-megapixel. The online leaked new information providing details on the Galaxy Note 7 display , size and battery capacity.
    Miller Masters Treacherous Assen Track for Maiden MotoGP Win

    Miller Masters Treacherous Assen Track for Maiden MotoGP Win

    Eugene Laverty (Ireland) Ducati 22:40.052 8. Hector Barbera (Avintia Racing) +18.692 7. Scott Redding (Octo Pramac) +5.906 4. Stefan Bradl (Aprilia) +23.603 9.
  • Hundreds protest against alleged police killings in Kenya

    Hundreds protest against alleged police killings in Kenya

    Activists said they were participating because they want justice and full accountability from the police. A court ordered that they be held without bail for two weeks for investigations to be completed.

    Israel should stop settlements, denying Palestinian development

    Nickolay Mladenov, special coordinator of the Middle East Peace Process, tells AFP that the report must serve as "a wakeup call". Violence since October has killed at least 214 Palestinians, 33 Israelis, two Americans, an Eritrean and a Sudanese.
    Gary Lineker Calls Nigel Farage A 'Dick' Over EU Referendum Result

    Gary Lineker Calls Nigel Farage A 'Dick' Over EU Referendum Result

    "June 23rd needs to become a national bank holiday and we will call it Independence Day ". He said it had been an "extraordinary" campaign and Ukip were " going nowhere ".
  • Trump Paying First Visit to GOP Rank-and-File in Congress

    Trump Paying First Visit to GOP Rank-and-File in Congress

    Dozens of protesters awaited Trump , shouting slogans and waving signs that said Trump is "Dangerous, Divisive, Deceitful". Marco Rubio said he was scheduled to preside over the Senate but that others would benefit more anyway from seeing Trump .

    Ciara Alleges That Future Is Trying To Kill Russell Wilson

    Ciara was previously engaged to Future in 2013, but they split soon after the birth of their son, Future Zahir, in April 2014. The "1,2 Step" singer detailed several of Future's messages that she deemed as real threats to Russell Wilson .

    China-backed AIIB approves $509 million for first four projects

    The bank's Vice President and Chief Investment Officer DJ Pandian welcomed the new investments. AIIB was officially established late a year ago with authorised capital of $ 100 billion.

Breaking News



Recommended

Regulator probes July 1 crash of Tesla Model X in Pennsylvania

According to the police report , Scaglione could be ticketed in this crash if he is found to be at fault. There are some problems the way Tesla went about doing this, but it's not going to be ideal .

Oscar Pistorius sentenced to 6 years in prison for murder

After an appeal by state prosecutors he was convicted of murder last year, a crime which carries a mandatory sentence of 15 years. It might be back to the SCA [Supreme Court of Appeal] again to consider whether this sentence is appropriate for murder.

IGP confirms 2 Bangladeshi nationals as ex-Monash University students in Malaysia

One of the hostages later said that these gunmen meant to kill foreigners as they blamed them for hampering the progress of Islam. Local police have arrested a seventh man at the restaurant whom they suspect of having play a role in the attack.

De Havilland breaks silence on Fontaine feud

Frequently spotted at global film festivals, she subsequently only made occasional film appearances. Leigh would flutter, they figured, and de Havilland's down-to-earth Melanie would anchor the story.

Manchester United make massive Mkhitaryan mistake

Henrikh Mkhitaryan stunned Borussia Dortmund coach Thomas Tuchel with a text informing him he would be joining Manchester United. Pogba is represented by Mino Raiola, who also represents United's other acquisitions Zlatan Ibrahimovic and Henrikh Mkhitaryan .

Wisconsin woman on FBI's top 10 fugitive list captured in North Carolina

Minor was added to the "Most Wanted" list earlier this week-only the tenth woman to make the list in its history. During that time, she showed a gun and fired it in the air, before leaving the scene with other people.

Naked man in Times Square takes over morning rush hour

The Post identified the man as model Krit McClean, a fashion model born in Bangkok and raised in NY . In a bid to take down McClean, police blocked the traffic for some time, but their attempt failed.

GOP, Democrats say progress made in budget talks

This is the second year in a row that the legislature has adjourned without passing a budget before the end of the spring session. Kyle McCarter, R-Vandalia. said the state's big issues, like how to solve its pension problem, have not been discussed at length.

Smug India spoilt by West: Chinese media

Chinese spokesperson also dismissed the perception that China was exclusively responsible for blocking India's inclusion into NSG. Instead, the statement said the countries "continue promoting the shared goals of nuclear disarmament and non-proliferation".

Mets officially re-sign Jose Reyes

But the GM said he came away from his meeting with Reyes convinced that the former star took responsibility for his mistake. She and their three daughters, Katerine, Joselyn and Ashley, regularly make appearances on Reyes' social media.