Former City trader facing charges over rigging bank borrowing rates flees trial

Written by Adam Cadle

Former City trader Philippe Moryoussef facing charges that he helped to rig bank borrowing rates will be tried in absentia after he failed to attend court, arguing that he did not think he would get a fair trial.

Moryoussef, who worked for Barclays, was set to appear alongside four other defendants at Southwark crown court in London on Monday accused of manipulating Euribor.

He has fled to France, forfeiting his £150,000 bail.

The case is the latest to be brought to trial as part of the Serious Fraud Office's charges against City workers for manipulating financial benchmarks.

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