A British banker was pictured walking his dog in today after a US court overturned the conviction of a former Deutsche Bank trader - and the conviction of his American counterpart - after both were prosecuted in New York for rigging the Libor rate. Gavin Black, the director of Deutsche Bank's money markets and derivatives desk in London, and his New York-based colleague Matthew Connolly, were convicted of wire fraud and conspiracy in 2018.But in a landmark ruling in Manhattan last night, a three-judge panel from the Second US Circuit Court of Appeals ruled the US government 'failed to show that any of the trader-influenced submissions were false, fraudulent or misleading'.
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