Five former Barclays traders have convictions quashed
The Court of Appeal has overturned the convictions of five former Barclays traders who received prison sentences in interest-rate rigging cases.
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The Court of Appeal quashed the convictions of Jay Vijay Merchant, Jonathan Mathew, Philippe Moryoussef, Alex Pabon and Colin Bermingham on 7 October. The five former Barclays traders had received prison sentences in interest-rate rigging cases. [1] [2]
According to the Criminal Cases Review Commission (CCRC), Pabon, Merchant and Mathew were convicted of conspiracy to defraud in 2016, Moryoussef in 2018 and Bermingham in 2019. Moryoussef was sentenced in his absence and did not return to the UK to serve his sentence, the BBC reported. [1] [3]
The CCRC said the five applied to it in August 2025, after the Supreme Court quashed the convictions of two other traders, Tom Hayes and Carlo Palombo. The commission referred the five cases to the Court of Appeal earlier this year. [1]
The Serious Fraud Office did not oppose the five appeals, the Guardian reported. The agency also noted that, in the separate Hayes and Palombo cases, the Supreme Court had found ample evidence on which a properly directed jury could have convicted those two men. [2]
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