Societe Generale Bankers Charged in U.S With Libor Rigging
- Pair ordered subordinates to submit bogus rates, U.S. says
- Foreign prosecutions tougher for U.S. after convictions tossed
The headquarters of Societe Generale SA stand in Paris.
Photographer: Balint Porneczi/BloombergThis article is for subscribers only.
Two Societe Generale SA bankers in France were charged in New York with rigging the London interbank offered rate and allegedly causing more than $170 million in harm to the global financial markets.
The indictments come as U.S. prosecutors press ahead with a seven-year international probe into manipulation of the benchmark rate despite a recent setback that makes it tougher for them to win cross-border cases.