Four Barclays Bank employees have received prison sentences following their convictions for manipulation of LIBOR between June 2005 and September 2007. The defendants were convicted of conspiring with each other and others to procure or make submissions of rates into the LIBOR setting process with the intent to prejudice the economic interests of others. There have now been five convictions as a result of the SFO’s investigation into LIBOR of a total of 19 individuals who have been charged so far. Tom Hayes was sentenced to 11 years in August 2015, but six defendants were acquitted of charges against them in January 2016.
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