UK Appeal Court Quashes Rate-Rigging Convictions in Blow to SFO
Britain’s Court of Appeal has quashed the convictions of five former bankers jailed over benchmark rate-rigging, dealing a major setback to the Serious Fraud Office and reopening one of the City of London’s most consequential post-crisis prosecutions. The ruling intensifies scrutiny of how prosecutors handled the long-running Libor cases and raises fresh questions over the durability of earlier convictions tied to the financial scandal.
