July 12, 2018 / 12:27 PM / 10 days ago

Former Barclays trader found guilty of rigging Euribor

LONDON, July 12 (Reuters) - A French former Barclays trader, who was tried in absentia by a London criminal court, has been convicted by a jury of conspiring to rig global Euribor interest rates in a five-year scam.

Philippe Moryoussef, a 50-year-old former senior derivatives trader, was found guilty of conspiracy to defraud by dishonestly manipulating Euribor - or Euro interbank offered rate - between January 2005 and December 2009 after an 11-week trial.

The jury at Southwark Crown Court acquitted Achim Kraemer, a Deutsche Bank manager still employed by the bank. The jury were unable to reach a verdict on the other three traders on trial. (Reporting by Kirstin Ridley, editing by Silvia Aloisi)

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