Newspaper article International New York Times

Retrial Set for Barclays Traders in Libor Case

Newspaper article International New York Times

Retrial Set for Barclays Traders in Libor Case

Article excerpt

A jury was unable to reach a verdict this month regarding two former Barclays traders, Stylianos Contogoulas and Ryan Michael Reich.

Two former Barclays traders will be retried in February on charges that they plotted to manipulate a benchmark interest rate known as Libor.

A jury was unable to reach a verdict this month regarding the former traders, Stylianos Contogoulas and Ryan Michael Reich.

Their trial was the third in Britain to focus on a scandal involving the London interbank offered rate, or Libor. The scandal has led to billions of dollars in fines and shook the reputations of some of the world's biggest banks, including Barclays, Deutsche Bank, the Royal Bank of Scotland and UBS.

Mr. Contogoulas and Mr. Reich have denied wrongdoing, and their lawyers have questioned the need for a second trial in the matter. …

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