The reversals undo a high-profile attempt to penalize individual bankers for systemic rigging within the financial sector. While the overturned Barclays verdicts mark the latest failure in these cases, Verity noted that many questions regarding the original trials and the scale of the judicial failures still remain.
Tuesday, October 20, 2026
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18 of 19 Rate Rigging Convictions Falsely Reached in London
Business11 days ago
A series of legal errors has dismantled the guilty verdicts of nearly every banker imprisoned for distorting benchmark interests. Eighteen of the 19 traders convicted of rigging interest rates were falsely tried, according to journalist Andy Verity, who termed the situation an extraordinary financial and judicial scandal. A London court recently quashed the convictions of five former Barclays employees as part of this wider collapse of landmark fraud prosecutions.
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