Five brokers accused of helping rig the Libor interest rate have been found not guilty by a jury at Southwark crown court in London.
In a large blow to the Serious Fraud Office, five of the six brokers accused of helping Tom Hayes – who is serving 11 years in prison – to rig Libor have been cleared. The judge has asked the jury to reach a majority verdict on the sixth.
The brokers on a trial were Darrell Read, Danny Wilkinson and Colin Goodman, who worked at Icap, Noel Cryan, formerly of Tullett Prebon, and Jim Gilmour and Terry Farr, who worked at RP Martin.
The jury reached a not guilty verdict on one count of conspiracy to defraud faced by Read, but is yet to reach a verdict on the second count.
The trial of the brokers has lasted 15 weeks, but the jury was out for less than a day before revealing its verdicts.
The brokers, whose nicknames included “Lord Libor” and “Big Nose”, were accused of acting as gobetweens by passing around requests from traders and being paid extra commission by Hayes.
The jury will return on Thursday.
