A former Deutsche Bank AG trader pleaded guilty in New York to conspiring to manipulate a benchmark interest rate tied to trillions of dollars in securities and loans.

Timothy Parietti, who admitted to having conspired to rig the London interbank offered rate, entered the plea on May 26, according to documents unsealed on Wednesday.

Parietti’s lawyer, Larry Krantz, didn’t immediately return a call seeking comment about the plea.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE