UK prosecutors charge 10 with Euribor manipulation


By Lindsay Fortado
Financial Times, London
Friday, November 13, 2015

UK prosecutors have charged 10 traders from Barclays and Deutsche Bank with conspiring to manipulate Euribor, the largest group of defendants to face prosecution so far in the global rate-rigging probe.

Christian Bittar, formerly of Deutsche Bank, and Philippe Moryoussef, formerly of Barclays, are among the defendants accused of fixing the euro interbank offered rate. The suspects were ordered to appear before magistrates in London in January.

"Criminal proceedings will be issued against other individuals in due course," the Serious Fraud Office said, adding: "The investigation continues."

The charges are the first over manipulation of Euribor, one of the strands in the rate rigging probe that started with Libor. The SFO joined the sprawling global investigation in July 2012 after Barclays became the first bank to be fined by U.S. and U.K. authorities. ...

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