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Courts Bankers charged with conspiracy to defraud

February 27, 2014

Three former Barclays bankers appeared in court yesterday accused of conspiring to manipulate Libor interest rates in an attempt to lift the bank's profits and boost their bonuses.

Jonathan Mathew, 33, Peter Johnson, 59, and Stylianos Contogoulas, 42, appeared at Westminster magistrates court charged with conspiracy to defraud between June 2005 and August 2007.

Libor is the average interest rate leading London banks believe they would be charged if borrowing from other banks.

The men spoke only to confirm their addresses and dates of birth. They were granted bail to appear at Southwark crown court on 3 March. Rupert Neate

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Source: Guardian (UK)

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