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March 10, 2016

Posted  March 14, 2016

Two former derivatives traders at Rabobank Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A. (Rabobank) were sentenced to prison for manipulating the London Interbank Offered Rates (LIBOR) for the U.S. Dollar (USD) and Japanese Yen (JPY), benchmark interest rates to which trillions of dollars in interest rate contracts were tied.  Anthony Allen, the bank’s former global head of liquidity and finance in London, was sentenced to 24 months and Anthony Conti, a former senior trader on the bank’s money markets desk in London, was sentenced to 12 months.  DOJ

Tagged in: Foreign Exchange, Fraud in CFTC-Regulated Markets,