Rabobank ex-traders convicted in the US over the manipulation of LIBOR

Moscow. On 5 November. An American court found two former traders of Dutch Bank Rabobank guilty of manipulating the London interbank offer rate (LIBOR), according to Bloomberg.

The verdict was handed down in a Federal court in Manhattan against Anthony Allen, a former global head of liquidity and Finance Bank, and Anthony Conti, who was responsible for sending the control information on the basis of which to calculate the rate value. They face up to 10 years in prison.

According to prosecutors, Allen recommended to the traders of the Bank to consult with employees as to what size bets they are profitable in a given day, and ask them to send selectively the information that will lead to the desired result. Conti has repeatedly sent by the controller of obviously false data.

This is the first time the U.S. government brought to an end the case against certain people accused of intentional manipulation of the value of this rate, which is based on world markets of about $350 trillion. Previously, U.S. regulators have fined a number of banks, including Rabobank, on $2 billion in connection with the case.