SFO charges first individuals with EURIBOR manipulation
13 Tachwedd, 2015 | Eitemau newyddion
The UK’s Serious Fraud Office today issued the first criminal proceedings against 10 individuals accused of manipulating the Euro Interbank Offered Rate (EURIBOR).
The following individuals will be charged with conspiracy to defraud in connection with the SFO’s ongoing investigation into the manipulation of EURIBOR:
Deutsche Bank Employees:
– Christian Bittar
– Achim Kraemer
– Andreas Hauschild
– Joerg Vogt
– Ardalan Gharagozlou
– Kai-Uwe Kappauf
Barclays Bank Employees:
– Colin Bermingham
– Carlo Palombo
– Philippe Moryoussef
– Sisse Bohart
Criminal proceedings will be issued against other individuals in due course.
The defendants will make their first appearance at Westminster Magistrates’ Court on 11 January 2016. The investigation continues.
Notes for editors:
- The Serious Fraud Office announced that it had decided to accept allegations of the manipulation of LIBOR and EURIBOR for investigation on 6 July 2012.
- A senior banker from a leading British bank pleaded guilty on 3 October 2014 to conspiracy to defraud in connection with manipulating LIBOR.
- Tom Hayes was found guilty on 3 August 2015 of offences of conspiracy to defraud in the Yen LIBOR setting process and sentenced to 14 years in prison.
- Terry Farr, James Gilmour, Danny Wilkinson, Darrell Read, Colin Goodman and Noel Cryan, are currently on trial at Southwark Crown Court, charged with conspiracy to defraud in respect of LIBOR manipulation.
- The trial of Jonathan Mathew, Stylianos Contogoulas, Jay Merchant, Ryan Reich and Alex Pabon on charges of conspiracy defraud in respect of manipulating US dollar LIBOR is scheduled to begin in January 2016 at Southwark Crown Court.
- The Serious Fraud Office continues to work with the UK Financial Conduct Authority and the United States Department of Justice in furtherance of its on-going LIBOR/EURIBOR investigations.
- The strict liability rule in the Contempt of Court Act 1981 applies.