August 18, 2014 / 8:26 PM / 4 years ago

Ex-Rabobank employee is second to plead guilty to Libor rigging

WASHINGTON, Aug 18 (Reuters) - A former employee of Rabobank pleaded guilty on Monday to participating in a scheme to manipulate the Yen Libor rate, the U.S. Justice Department said, the second employee of the Dutch lender to plead guilty in connection with the scheme.

Paul Robson, who used to submit Rabobank’s rates used to calculate the Libor benchmark, pleaded guilty for his role in a conspiracy to manipulate the submissions to benefit trading positions, the agency said. (Reporting by Aruna Viswanatha; Editing by Eric Walsh)

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