Novel Libor Sentence Shows Issues Foreign Defendants Face

By Jody Godoy (October 25, 2019, 8:37 PM EDT) -- Foreign defendants face harsher penalties in the U.S. than their American peers — unless they can get a judge to hack the system, as one did in allowing a British former trader convicted of Libor-rigging to serve home confinement at his home in the U.K.

At a sentencing hearing on Thursday, Chief U.S. District Judge Colleen McMahon said she had struggled "for weeks" with how to sentence former Deutsche Bank trader Gavin Black.

Black was one of the few to be convicted for attempts to rig the London Interbank Offered Rate, a lending benchmark set by Deutsche and other multinational banks...

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