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US: DOJ announces guilty LIBOR plea of ex-Rabobank exec

By  |  June 11, 2014

The Department of Justice announced Wednesday that a former executive at Japanese bank Rabobank has pleaded guilty for conspiring to manipulate the Yen LIBOR benchmark, reports say.

Takayuki Yagami was charged with one count of band fraud and one count of conspiracy to commit wire fraud, the regulator announced; he pleaded guilty to both in New York.

In a statement, Attorney General Eric Holder said the plea was “another significant step to hold accountable those who fraudulently manipulated the world’s cornerstone benchmark interest rate for financial gain.”

Rabobank agreed last year to pay $325 million in fines to the DOJ regarding LIBOR manipulation claims, according to reports.

Full content: FBI.gov

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