Senior bankers in UK sentenced to 9 years for rigging EURIBOR rateChristian Fernsby ▼ | April 2, 2019
Carlo Palombo and Colin Bermingham were sentenced to a total of 9 years imprisonment at Southwark Crown Court for manipulating the Euro Interbank Offered Rate (EURIBOR) at the height of the financial crisis.
Britain Carlo Palombo and Colin Bermingham
Lisa Osofsky, Director of the Serious Fraud Office said: “These men deliberately undermined the integrity of the financial system to line their pockets and advance the interests of their employers.
“We are committed to tracking down and bringing to justice those who defraud others and abuse the system.”
Carlo Palombo was sentenced to 4 years. Colin Bermingham was sentenced to 5 years. Both will face a further hearing to determine costs and proceeds of crime action. ■