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December 21, 2018

Posted  December 21, 2018

40 states have entered in to a $68 million settlement with UBS for its fraudulent conduct in the manipulation of the London Interbank Offered Rate (LIBOR).  The manipulation resulted in the government entities paying inflated prices for swaps and other financial instruments that were linked to LIBOR. Governmental entities with LIBOR-linked swaps and other LIBOR-linked financial instruments with UBS will be notified if they are eligible to receive a distribution from the settlement fund.  See: CA AG; CT AG; FL AG; NJ AG; NY AG; PA AG

Tagged in: Financial and Investment Fraud, Financial Institution Fraud,