Two former Barclays bankers have been sentenced to a total of nine years in jail for their roles in manipulating Euribor interest rates at the height of the financial crisis. Two former Barclays bankers have been sentenced to a total of nine years in jail for their roles in manipulating Euribor interest rates at the height of the financial crisis. Carlo Palombo and Colin Bermingham were last week found guilty of conspiring with former Deutsche Bank trader Christian Bittar and former Barclays director Philippe Moryoussef to submit false or misleading Euribor submissions. Palombo earned £5.4 million and Bermingham earned £3.5 million in the same period. “Mr Palombo started at Barclays as a junior trader and was taught by his management from an early stage about making requests of the submission desk.

Source: Irish Independent April 01, 2019 12:56 UTC