The Serious Fraud Office’s withdrawal of European arrest warrants against four individuals regarding manipulation of the Euro Interbank Offered Rate (EURIBOR) led to Rahman Ravelli’s Aziz Rahman being quoted on the case by the FT, among others.
The withdrawal of the warrants brings to an end a lengthy investigation that has seen four convictions, three acquittals, a defendant absconding and Germany and France refusing to extradite four individuals to the UK.
Aziz noted that the investigation has been a far from straightforward one for the SFO. He also made the point that the inability to have defendants extradited must raise questions about how the UK will be able to utilise the European arrest warrant system in the post-Brexit era.
While the SFO can claim a limited degree of success, in this case, it must, according to Aziz, move on and devote its energies to more immediate, pressing concerns. Aziz's comments featured on The Financial Times (subscription required), The New York Times, Reuters, Law360 and the Daily Mail.