5 traders jailed for rigging key interest rates have their convictions quashed

On Wednesday in London, a British court quashed the convictions of five former traders who had been jailed for manipulating benchmark interest rates. The individuals were among those accused of rigging key rates in one of the largest banking scandals stemming from the 2008 global financial crisis.

The latest acquittals follow a long legal battle by the former bankers to clear their names. The decision comes a year after the UK Supreme Court overturned a previous ruling against another City trader, Tom Hayes.