Ex Rabobank traders charged for Libor rate rigging

Three former traders of Dutch bank Rabobank are facing charges in the United States for their supposed role in the Libor interest rate-rigging scandal.

Interest Rates / Flickr

Paul Robson, Paul Thompson and Tetsuya Motomura were charged with wire fraud and conspiracy to commit wire fraud and bank fraud, The New York Times .

The three were accused of submitting false estimates of interest rates to benefit their own trading positions, according to a complaint filed on Monday with the Federal District Court in Manhattan.

They could face a maximum 30 years in prison.

Acting Assistant U.S. Attorney General Mythili Raman said “these three traders -- working from Japan, Singapore and the United Kingdom -- deliberately submitted what they called ‘obscenely high’ or ‘silly low’ Libor rates in order to benefit their own trading positions,” Bloomberg News reported.

Tags: