Bambos Tsiattalou, Partner and Founder of Stokoe Partnership Solicitors comments for City AM regarding the SFO’s third Libor trial.

“The Serious Fraud Office is gearing up for a crunch trial tomorrow as it heads to court in the latest instalment of the Libor rigging saga.

The under-pressure fraud squad’s war on financial misconduct will continue at Southwark Crown Court, with the trial of six former Barclays bankers accused of US-dollar pegged Libor rigging.

The SFO will be closely scrutinised as, out of 13 individuals charged with offences related to Libor rigging since 2012, only one has been found guilty – former UBS and Citigroup trader Tom Hayes.

Its decision last month to drop an investigation into Forex manipulation because of a lack of evidence and the recent acquittal of businessmen James Sutherland and Jack Flader for an alleged boiler room scam has raised further questions. And in January, six former brokers were acquitted on accusations that they had conspired with Hayes to manipulate Libor.

“Given these recent and very public failures, the SFO will have to restore some credibility on its decision to prosecute cases such as the upcoming third Libor trial,” said Bambos Tsiattalou, founder and partner at Stokoe Partnership Solicitors.”

Read the full article here.