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US government reveals ‘damning’ evidence in Libor scandal
By Kevin DuganOctober 19, 2015 | 9:37pm

US government reveals ‘damning’ evidence in Libor scandal

Former trader says Rabobank employees would rig Libor interest rates
First US trial over Libor scandal kicks off

This “Libor bitch” could get leashed.

The US government unveiled its most damning evidence so far against two ex-Rabobank traders in Manhattan federal court on Monday, including chats, e-mails and recorded calls in which the bankers allegedly colluded to rig one of global finance’s most crucial benchmarks.

Anthony Allen, a former global head at the bank in London, and one of his traders, Anthony Conti, are accused to rigging Libor, an interest rate at the heart of trillions of dollar of financial contracts.

Prosecutors claim that the culture at the Utrecht, Holland-based Rabobank was so corrupt that its bankers would openly talk about it in chats and in the office.

“I AM FAST BECOMING YOUR LIBOR BITCH!!!!” Allen complained to another subordinate trader in a Bloomberg chat after being asked to rig the rate.

In a call, prosecutors say Allen openly solicited another trader to tell him where to set the rate.
“Where do you want them?” Allen asked.

“Maybe a smidgen lower,” the other trader, Paul Thompson in Hong Kong, said."

Continues

Sources

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