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Libor-Rigging Guilty Verdicts Bolster U.S. Bid to Punish Traders

From bloombergquint.com

A U.S. crackdown on the people who rigged key financial-market benchmarks suffered a stinging setback last year when an appeals court tossed out the conviction of two former Rabobank Groep traders. Prosecutors got a measure of redemption on Wednesday. A federal jury returned guilty verdicts in a separate case against two ex-traders at Deutsche Bank AG. The company was one of the worst offenders in a scandal that led to billions of dollars in fines to settle government claims that companies rigged Libor, a global interest-rate benchmark. Matthew Connolly, 48, of Basking Ridge, New Jersey, and Gavin Black, 53, of ... (full story)

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