Coferal sells stake.
clays traders have been found guilty by a London jury of conspiring to fraudulently manipulate global benchmark interest rates in a stark warning to junior bankers and a major victory for Britain’s Serious Fraud Office (SFO). The verdicts bring to five the number of people convicted in London for being part of a global financial conspiracy that has forced banks to pay fines of $9 billion, discredited rates like Libor and helped shred public faith in the banking industry. Reporting restrictions on the verdicts were lifted yesterday after the jury failed to reach a verdict on two other defendants, 44-year-old Greek-born Stylianos Contogoulas and American Ryan Reich, 34. The SFO now has 14 days to decide if it will seek a fresh trial for them.
Concept Liberty Group SA stated that Cyprus-based Coferal Enterprises Ltd has sold 941,531 of the company’s shares, representing a 65.48 pct stake in the company. Following the transaction, Coferal Enterprises does not hold any Concept Liberty Group shares.