Arab Today, arab today 2 deutsche bank traders indicted over libor manipulation
Last Updated : GMT 17:12:37
Arab Today, arab today
Arab Today, arab today

2 Deutsche Bank traders indicted over Libor manipulation

Arab Today, arab today

Arab Today, arab today 2 Deutsche Bank traders indicted over Libor manipulation

The department said between 2005 and 2011
Washington - AFP

The US Justice Department indicted two former Deutsche Bank traders Thursday for involvement in a scheme to manipulate the Libor dollar interest rate, crucial to financial contracts around the world.

The department said that between 2005 and 2011, Matthew Connolly of New Jersey and Gavin Campbell Black of London, worked with at least eight others to artificially fix the daily benchmark rate to benefit their own and their banks' derivative positions.

The charges were only the latest in a sprawling international case that has seen traders from several banks charged, hit with steep fines and jailed, and the banks themselves heavily fined.

Connolly was Deutsche Bank's supervisor of the Pool Trading Desk in New York, and Black was a derivatives trader in London when the manipulation took place.

Connolly was arrested on Thursday and was expected to appear in court in New York.

The Justice Department said a third trader at the bank, Michael Cutler of London, pleaded guilty last year to wire and bank fraud charges in the case.

"By corrupting this important benchmark rate, the defendants undermined the integrity of financial markets here and around the world," Deputy Assistant Attorney General Brent Snyder said in a statement.

Last year Deutsche Bank agreed to pay $2.5 billion to settle charges in the case with British and US authorities.

Five other banks have reached settlement deals with US authorities in the case, including Barclays Bank, UBS, RBS, Rabobank, and Lloyds Banking Group. A total of 13 individuals have been charged by US authorities.

The probe is continuing in London as well, where more than 20 people have been charged.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 2 deutsche bank traders indicted over libor manipulation Arab Today, arab today 2 deutsche bank traders indicted over libor manipulation

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today 2 deutsche bank traders indicted over libor manipulation Arab Today, arab today 2 deutsche bank traders indicted over libor manipulation

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today Egypt tourism revival steady but slow

GMT 16:04 2017 Tuesday ,19 September

Egypt tourism revival steady but slow
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today 600,000 children may flee to Bangladesh

GMT 06:49 2017 Monday ,18 September

600,000 children may flee to Bangladesh
Arab Today, arab today Equifax executives step down

GMT 16:16 2017 Saturday ,16 September

Equifax executives step down
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today 5,000 'Dieselgate' deaths in Europe per year

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Renault-Nissan to launch

GMT 10:44 2017 Saturday ,16 September

Renault-Nissan to launch
Arab Today, arab today Eman Al Assy receives three offers

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers
Arab Today, arab today 'Severe' Typhoon Doksuri pounds Vietnam

GMT 15:49 2017 Friday ,15 September

'Severe' Typhoon Doksuri pounds Vietnam

GMT 11:10 2017 Friday ,15 September

Fadl Shaker retreats from surrendering himself

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 10:25 2017 Thursday ,14 September

Greece fumbled oil spill response

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:45 2017 Sunday ,17 September

France's hurricane-hit St Martin

GMT 21:57 2017 Sunday ,17 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday