Jurisdiction(s):
United Kingdom

SFO confirms Christian Bittar’s Euribor conviction safe after review despite UK Supreme Court quashing Hayes and Palombo

Published on: 08 October 2025

Published by a Law360 reporter

Legal News

Article summary

Christian Bittar’s 2018 fraud conviction for manipulating a key European interest rate benchmark remains secure following a review of the Serious Fraud Office’s prosecution, the agency confirmed in a statement issued within its Response to Supreme Court judgment...

The SFO acknowledged in August 2025 that it was reassessing cases involving former traders after the UK Supreme Court quashed the convictions of Tom Hayes and Carlo Palombo on the basis that they had not received a fair trial. In contrast to those defendants, Bittar pleaded guilty to fraud relating to a key benchmark interest rate ahead of any trial, and his case did not go before a jury...

In a statement dated 6 October 2025, the SFO’s Jason Williams pointed to the Supreme Court justices’ conclusions that, even with correct directions from the trial judge in the Hayes and Palombo matters, there remained ample evidence on which to convict the traders. He added: “We have advised every defendant how this judgment may affect their conviction and it’s for them to consider any next steps,” indicating that individuals must decide their own course of action in light of the ruling...

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