British fraud office seeks retrial of ex-Barclays trio

Reuters  |  LONDON 

(Reuters) - The UK (SFO) is seeking a retrial of three former traders accused of plotting to rig global interest rates after a was unable to reach a verdict last week.

A for the SFO told a court on Thursday that Carlo Palombo, 39, Sisse Bohart, 41, and 61-year-old would face a second trial on charges they conspired to defraud by dishonestly manipulating Euribor rates between January 2005 and December 2009. They deny wrongdoing.

Two co-defendants, former Deutsche and one-time Philippe Moryoussef, are due to be sentenced later on Thursday.

said they were disappointed by the SFO's decision.

"We have made detailed written submissions to the SFO... that it would not be in the public interest to re-try our client, but sadly those submissions have been ignored in a single sentence reply," Bohart's lawyer, John Milner, told

"We will continue to fight the good fight."

Prosecutors allege the trio conspired with others to dishonestly skew rates designed to reflect interbank borrowing costs in order to bolster bets on interest rate derivatives.

declined to comment. Deutsche Bank did not immediately provide a comment.

(Reporting by Kirstin Ridley; Editing by John Stonestreet/Keith Weir)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, July 19 2018. 15:20 IST