On Thursday 28 January Darrell Read, a former broker at ICAP plc, was the sixth broker to be found not guilty of conspiring to defraud by manipulating the Libor rate. Mr Read was represented by Henry Blaxland QC of Garden Court Chambers’ Fraud Team.
Mr Read’s five co-defendants Colin Goodman, Danny Wilkinson, Terry Farr, James Gilmour and Noel Cryan were acquitted on Wednesday of helping convicted trader Tom Hayes manipulate the Libor rate. Mr Read was cleared of one count, after which the jury were asked to continue deliberations in relation to a second count of conspiracy to defraud. After a trial at Southwark Crown Court lasting 15 weeks, the jury took less than a day to reach a not guilty verdict.