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Prosecutors Say Ex-Traders Gamed System With Euribor Rig

Law360, London (April 11, 2018, 5:33 PM BST) -- Five former Barclays PLC and Deutsche Bank AG traders gamed the financial system to rip off counterparties that did business with them in a conspiracy to rig an interest rate benchmark used to price trillions of dollars of securities, prosecutors for Britain’s Serious Fraud Office told a London court on Wednesday.

The former bankers were charged by the SFO with agreeing to submit rates into the Euribor-setting process that were “false or misleading." (AP) Opening the case for the SFO, James Waddington QC told the jury...
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