January 13, 2014 / 9:57 PM / in 4 years

Three ex-Rabobank traders charged with manipulating Yen Libor

WASHINGTON, Jan 13 (Reuters) - Three former traders at Dutch bank Rabobank were criminally charged on Monday with manipulating the Yen Libor benchmark interest rate, the U.S. Department of Justice said.

Two former Japanese Yen derivatives traders and a third trader responsible for setting the bank’s Yen Libor rate were accused of submitting fraudulent rates in order to benefit their trading positions, the Justice Department said.

A federal judge in New York signed a criminal complaint charging Paul Robson of the United Kingdom, Paul Thompson of Australia and Tetsuya Motomura of Japan, it said. Charges included wire fraud and conspiracy to commit wire fraud, it said.

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