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Two acquitted in Libor trial

6 April, 2017 | Case Updates

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.

Notes for editors:

  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. 

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