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Last of the Libor Riggers Face Judge -- and Are Spared Jail (2)

Oct. 24, 2019, 4:00 AMUpdated: Oct. 24, 2019, 7:33 PM

The global Libor-rigging prosecution sputtered toward its final chapter on Thursday when a federal judge in Manhattan said she wouldn’t jail two former Deutsche Bank AG traders convicted last year of manipulating the benchmark interest rate.

Matthew Connolly and Gavin Black were probably the last to be punished of 25 people charged in a massive transatlantic crackdown that began more than a decade ago. Overall, prosecutors managed to send only a handful of bankers to prison while winning billions of dollars in fines from the financial institutions they worked for.

They had asked U.S. District Judge Colleen McMahon to give ...