Analysis

SFO's Expert Witness 'Debacle' Unlikely To Help Libor Appeals

Law360, London (March 23, 2018, 3:52 PM GMT) -- An English appeals court's recent decision dismissing a former Barclays trader's bid to overturn a conviction for Libor-rigging bodes ill for similar appeals in connected cases that look to build arguments on a prosecution witness whose mistakes caused an "embarrassing debacle" for the Serious Fraud Office.

Alex Pabon, one of four former Barclays PLC traders jailed in July 2016 for manipulating the London Interbank Offered Rate, had based his appeal on the claim that the statements made by the SFO's expert banking witness Saul Haydon Rowe lacked credibility after it emerged he texted friends for advice while giving evidence.

Although the...

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