Jury acquits former ICAP broker in Libor trial

Thursday 28 January 2016

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.

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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.

The case has been widely reported, including in the Guardian, the BBC and Financial Times.

Henry Blaxland QC is joint Head of Chambers and member of the Garden Court Chambers Fraud Team and the Garden Court Chambers Crime Team, winners of the Legal 500 Crime Set of the Year Award 2015.

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