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Ex-Deutsche Bank trader jailed for rigging rates has conviction overturned

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Core Development: Ex-Deutsche Bank trader jailed for rigging rates has conviction overturned
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Market & Financial Impact: The Court of Appeal quashes the conviction of Christian Bittar, a former Deutsche Bank trader jailed in 2018.
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Another former banker sentenced in one of the biggest scandals of the financial crisis has had his conviction overturned following a long-running legal battle.

The Court of Appeal has quashed the conviction of Christian Bittar, a former Deutsche Bank trader who went to prison in 2018 for "manipulating" the benchmark interest rate, Euribor.

It comes after the same UK court overturned five convictions of ex-Barclays bankers in the rate rigging trials earlier this week.

Bittar, who watched proceedings via video link from Switzerland because he was not granted a visa to attend court, told the BBC: "I have waited a very, very long time for this day."

The financial crisis began in 2008, sending huge economic shockwaves across the world and triggering recessions in many countries.

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Official Publisher Attribution: This report is aggregated from Bloomberg. ZeroLive provides live aggregation, automated sentiment synthesis, and exchange disclosure monitoring for retail market participants.
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