Tom Bushnell helps Financial Times explain ‘how a decade of banker prosecutions collapsed’

Senior associate Tom Bushnell has been quoted in a Financial Times feature examining the ten year process by which a swathe of criminal prosecutions of financial professionals in the UK and the USA collapsed.

Tom focuses his comments on the UK Supreme Court’s recent decision to quash his client Carlo Palombo’s conviction for fraud related to alleged EURIBOR manipulation. Tom Hayes’ LIBOR-related fraud conviction was also quashed in the same case.

The FT explains how the Palombo / Hayes ruling is the latest in a line of decisions, by senior tribunals on both side of the Atlantic (and elsewhere in the world), that criminal prosecutions based on alleged benchmark manipulation were inherently ill-founded.

As the newspaper writes “together, the rulings undermine the biggest global set of white-collar prosecutions of the post-2008 era.”

FT subscribers can read the article here.