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BRIEF-U.S. announces indictment of two Societe Generale managers for Libor manipulation
August 24, 2017 / 7:51 PM / a month ago

BRIEF-U.S. announces indictment of two Societe Generale managers for Libor manipulation

Aug 24 (Reuters) - U.S. ANNOUNCES INDICTMENT OF TWO FRENCH BANK MANAGERS FOR ALLEGED ROLES IN LIBOR MANIPULATION -- STATEMENT U.S. SAYS DEFENDANTS KNOWINGLY INSTRUCTED SUBORDINATES TO SUBMIT INACCURATE DATA TO MAKE IT APPEAR THAT SOCIETE GENERALE WAS ABLE TO BORROW AT MORE FAVORABLE RATES THAN IT ACTUALLY COULD U.S. SAYS DANIELLE SINDZINGRE AND MURIEL BESCOND, BOTH FROM SOCIETE GENERALE, WERE CRIMINALLY CHARGED U.S. SAYS DEFENDANTS WERE CHARGED WITH ONE COUNT OF CONSPIRING TO TRANSMIT FALSE REPORTS OVER MARKET INFORMATION THAT TENDS TO AFFECT A COMMODITY, AND FOUR COUNTS OF TRANSMITTING SUCH REPORTS U.S. SAYS SINDZINGRE AND BESCOND WERE SOCIETE GENERALE‘S GLOBAL HEAD OF TREASURY AND THE HEAD TREASURY PARIS, RESPECTIVELY ACCORDING TO INDICTMENT, DEFENDANTS’ MISCONDUCT CAUSED MORE THAN $170 MLN HARM TO GLOBAL MARKETS, U.S. SAYS

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