Ex Barclays staff guilty of libor rigging

Three men rigged the rate to improve the bank's results

Updated: 

Ex Barclays staff guilty of libor rigging

Barclays may loom large over London, but it's not above the law.

Three former employees of the British bank, have been found guilty of rigging libor rates.

They are 45-year-old Jay Merchant, 35-year-old Jonathan Mathew and 38-year-old Alex Pabon.

The court heard they'd rigged the rate to improve the bank's results, defraud others, and make more money for themselves.

All three denied the charge, but the Jury thought otherwise, unanimously convicting one defendant, a majority convicting the other two.

It's the second successful libor rigging conviction for Britain's Serious Fraud Office.

Last year former UBS trader Tom Hayes was jailed for 11 years for the same offence.

On Thursday, these men will find out if they too will be locked behind bars.

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Victims of scams and fraud