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Ex-Barclays Euribor Traders Appeal Based on Jury Conduct Probe

Ex-Barclays Euribor Traders Appeal Based on Jury Conduct Probe

(Bloomberg) -- U.K. police are investigating allegations of juror misconduct that could effect the appeal of a pair of former Barclays Plc sentenced to as much as five years in prison for rigging a key interest rate.

A police report indicates investigators have spoken to 9 of the 12 jurors who found Colin Bermingham and Carlo Palombo guilty of manipulating Euribor, judge Heather Carol Hallett said at a preliminary hearing in London on Thursday.

Ex-Barclays Euribor Traders Appeal Based on Jury Conduct Probe

The investigation was started after one juror complained about the behavior of another member of the panel, who has not yet been spoken to by police, Hallett said. The Metropolitan police have been unable to contact two of the jurors.

“Essentially we need to ensure that there is a full and proper investigation,” Hallett said. “What concerns us is that the report suggested that two jurors were uncontactable.”

Bermingham, who was sentenced to five years, and Palombo, who was sentenced to four, were jailed for their role in efforts to manipulate the Euro interbank offered rate, which is related to trillions of dollars worth of loans and derivatives. They were the last two convictions in the Serious Fraud Office’s seven-year investigation into rate-rigging allegations.

Another court hearing is expected in September, once the police have concluded their investigation.

To contact the reporters on this story: Franz Wild in London at fwild@bloomberg.net;Christopher Elser in London at celser@bloomberg.net

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net

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