Ex-Rabobankers Denied Acquittal, New Trial In Libor Scam
Law360, Los Angeles (February 17, 2016, 8:36 PM EST) -- A New York federal judge denied acquittal or a new trial Wednesday for two former Rabobank traders convicted of conspiracy and wire fraud in connection with a scheme to manipulate Libor, rejecting arguments their submissions to the global benchmark weren't misstatements intended to cause harm.
U.S. District Judge Jed S. Rakoff found that Anthony Allen and Anthony Conti's submissions to the British Bankers' Association's London Interbank Offered Rate were actionable false statements under the wire fraud statute and determined that "a reasonable juror could have found that defendants intended to cause actual harm."
The ruling comes less than a week after...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!