Former Deutsche Bank trader Christian Bittar has had his conviction for manipulating the Euribor benchmark interest rate overturned by a British appeals court, according to several media outlets.
Bittar pleaded guilty in 2018 and served 23 months in prison before being released in February 2020. The court now finds that the conviction was not legally sound, despite the guilty plea.
The decision follows several similar rulings in which former bank traders have had their convictions for interest-rate manipulation overturned.
Britain’s Serious Fraud Office SFO opposed Bittar’s conviction being quashed.
