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UK Supreme Court quashes 2 bank traders’ convictions after deciding their trials were unfair
Britain’s Supreme Court on Wednesday quashed the convictions of two financial market traders accused of manipulating benchmark interest rates in one of the biggest scandals to come out of the global financial crisis in 2008. The charges against Tom Hayes, a former Citigroup and UBS trader, and Carlo Palombo, who worked for Barclays, centered around alleged efforts to influence the London Inter-Bank Offered Rate, or Libor, and its euro currency equivalent Euribor, which were used to set the interest rates on trillions of dollars of loans and other financial products around the world. The court ruled that the ... (full story)
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From youtube.com/whitehouse|Jul 23, 2025Washington, DC
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- Jul 23, 2025 3:31pm Posted byEntertainment12.4K
