Rabobank former trader pleaded guilty to fraud Libor

Rabobank former trader pleaded guilty to fraud Libor

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Rabobank former trader pleaded guilty to fraud Libor

Another former trader on the yen Dutch bank Rabobank Group NV has pleaded guilty to participation in a criminal scheme to manipulate the London interbank rate Libor.

On Monday, at a meeting of the Federal Court of New York, Paul Robson, a British citizen, pleaded guilty to conspiracy to commit fraud using electronic means of communication, manipulating data Rabobank, provided for in yen LIBOR rate, said the Department of Justice.

Earlier in June, confessed another former broker Dutch bank – Takayuki Yagami.
United States authorities continue investigation into the manipulation of base rates. In October 2013 Rabobank agreed to pay international regulators fine of $ 1.07 billion in exchange for a cessation of persecution.

Libor rate in yen appreciates, some banks charge a commission for providing loans to each other in the Japanese currency. Securities in the hundreds of trillions of dollars are tied to Libor, that puts one of the most important landmarks in the financial world.

Paul Robeson, Paul Thompson and Tetsuo Motomura, spetsializirovavshimya to trade currency derivatives, were charged with conspiracy to commit fraud, which allegedly involved other unknown persons or organizations.

Robson lawyer and a representative of Rabobank has not commented on the situation.

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