Former Barclays bankers jailed in Britain for rigging interest rates
Convictions a fillip for UK serious fraud office as two sentenced for conspiring to rig Euribor
London — Two former Barclays bankers were sentenced on Monday to a total of nine years in jail after they were convicted by a London jury of conspiring to rig the Euribor global interest rate benchmark. Colin Bermingham, 62, a British former cash market expert and senior rate submitter, was sentenced to five years while Anglo-Italian Carlo Palombo, a 40-year-old former derivatives trader, received a four-year term. A devastated Palombo and his family needed time to come to terms with the decision while considering any appeal, his lawyer John Hartley said, while Bermingham’s legal team had no immediate comment. Bermingham and Palombo had both denied any wrongdoing. Sisse Bohart, a Danish junior Barclays trader and submitter, was acquitted last week. The three had faced a retrial after a previous jury was in 2018 unable to reach a verdict. The men were convicted by a jury at Southwark Crown Court in the sixth rate-rigging prosecution brought by the UK serious fraud office after a near...
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