Two former Barclays employees acquitted in Libor trial 


The Serious Fraud Office (SFO) has issued a press release to inform in relation to the last decision coming from the Southwark Crown Court in Libor trial.

According the release:

Stylianos Contogoulas and Ryan Michael Reich were acquitted by a jury of Conspiracy to Defraud charges at Southwark Crown Court today following a retrial.

They were first tried in April 2016 alongside three defendants who were convicted of the same charges as well as fourth who pleaded guilty earlier.


  1. The jury reached their verdicts on 5 April and 6 April 2017. The retrial began on 27 February 2017 and lasted over a month.
  2. The Libor case was accepted for investigation in July 2012.
  3. Charges in Libor and Euribor have so far been brought against 19 individuals. Of these Peter Johnson pleaded guilty; Tom Hayes was convicted; six inter-dealer brokers were acquitted; Jonathan Mathew, Alex Pabon and Jay Merchant were convicted; and today two further defendants were acquitted.
  4. The SFO was represented in court by Emma Deacon QC and Dominic Lewis of 5 Paper Buildings.
  5. Defence Barristers for Contogoulas include John Ryder QC, James Fletcher and Karl Masi – 5 St Andrews Hill Chambers and for Reich they are Adrian Darbishire QC, Tom Doble, QEB and Hollis Whiteman.

Source: SFO

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