The trial of six brokers accused of rigging Libor ended in defeat for the Serious Fraud Office yesterday when a jury cleared five of the men.
Colin Goodman and Danny Wilkinson, two former Icap workers, James Gilmour and Terry Farr, former employees of RP Martin, and Noel Cryan, a former Tullett Prebon broker, were freed after being found not guilty of involvement in manipulating Japanese yen borrowing rates.
One count against a sixth defendant, Darrell Read, a former Icap broker, was outstanding as the jury considered a charge of conspiracy to defraud. Mr Read was found not guilty on another count of conspiracy to defraud.
The unanimous not guilty verdicts were a blow for the SFO and come as the contract of David Green, its