Ex-Rabobank trader Paul Thompson pleads guilty in US court

Former Rabobank Groep trader Paul Thompson admitted to conspiring with colleagues to manipulate benchmark interest rates to give them a trading advantage, becoming the sixth banker from the Dutch lender to be convicted in the global scandal.

Thompson pleaded guilty in federal court in Manhattan on Thursday after travelling to the US from Australia to face grand jury charges of conspiracy and fraud related to the manipulation of the Yen Libor, which sets the interest rates for borrowing in the Japanese currency. His guilty plea had been expected.

Bloomberg