Tuesday, August 19, 2014

Former trader Rabobank confesses Liborfraude – NU.nl

Former trader Rabobank confesses Liborfraude – NU.nl

This makes the United States Department of Justice announced.

The Briton, Paul Robson, worked in the office of Rabobank in London. He has at the court in Manhattan admitted with colleagues conspired to have to the Libortarief influence.

His conviction is scheduled for 2017, according to the Ministry of Justice . Until then Robson may remain at large, but he has to report to the authorities every week over the Internet.

In June known another former trader at Rabobank also to blame for fraud Libor. Rabobank paid a fine of nearly 775 million American and European regulators in the case.

Libor is the rate at which banks lend each other money worldwide. Bankers have, according to Rabobank regulators with colleagues from other international banks colluded to manipulate it. Internationally commonly used interest rate

What you should know about the Libor rate

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