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Ex-Deutsche Bank Traders Convicted in Libor-Rigging Case (1)

Oct. 17, 2018, 6:58 PM

Two former traders at Deutsche Bank AG were convicted by a New York jury of conspiring to rig Libor, a key interest-rate benchmark, handing a victory to U.S. prosecutors targeting behavior by individuals at financial institutions that have paid billions of dollars to settle government claims.

Matthew Connolly and Gavin Black were found guilty Oct. 17 of trying to manipulate the London interbank offered rate, which is used to value trillions of dollars of financial products, from 2004 to 2011.

Since regulators began a global crackdown on how the Libor benchmark is set, banks including Deutsche Bank and Barclays Bank ...