Arab Today, arab today bankers face 2017 trial over euribor alleged rate fix
Last Updated : GMT 12:48:35
Arab Today, arab today
Arab Today, arab today

Bankers face 2017 trial over Euribor alleged rate fix

Arab Today, arab today

Arab Today, arab today Bankers face 2017 trial over Euribor alleged rate fix

Former employee of Deutsche Bank, Christian Bittar (right)
London - AFP

The first bankers charged over alleged manipulation of the Euribor interest rate will face trial in London in September next year, a court ruled on Wednesday.

London's Southwark Crown Court said that the trial of six bankers charged with manipulating the Euro Interbank Offered Rate would begin on September 4, 2017.

The six are the first to be charged with conspiracy to defraud in relation to the Serious Fraud Office's (SFO) ongoing investigation into the alleged manipulation of the Euribor between 2005 and 2009.

Former Deutsche Bank trader Christian Bittar, who was ordered to pay a £1.0 million ($1.4 million, 1.3 million euro) bail, is being represented by Alexander Cameron, brother of British Prime Minister David Cameron.

The Euribor is the eurozone equivalent of the daily London Interbank Offered Rate, or Libor, which was found also to have been manipulated.

It is alleged that collusion to manipulate the Euribor rate occurred between employees of Deutsche Bank, British lender Barclays and French giant Societe Generale to profit the accused and their employers.

At an earlier hearing Monday, prosecutor James Waddington said "the rate was manipulated to suit the trading position of... traders".

The six defendants, comprising five men and one woman, are living in Britain, Denmark, Germany, Singapore and the United States awaiting their trial.

Four of them have since left Barclays, one has left Deutsche Bank while the other remains employed by the German lender.

The SFO will have to decide at a hearing on March 18 whether five other individuals will also face charges.

They are four ex-Deutsche Bank employees and one former Societe Generale banker.

 

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 bankers face 2017 trial over euribor alleged rate fix Arab Today, arab today bankers face 2017 trial over euribor alleged rate fix

 



Arab Today, arab today

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 bankers face 2017 trial over euribor alleged rate fix Arab Today, arab today bankers face 2017 trial over euribor alleged rate fix

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 17:59 2017 Monday ,12 June

Designer Rania Adel reveals her new collection

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
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