LIBOR scandal continues as three ex-Rabobank traders face charges

Three former Rabobank traders have been charged in the US with manipulating the yen LIBOR benchmark interest rate since 2006.

Criminal charges were filed in a Manhattan court on Monday against British citizen Paul Robson, as well as Paul Thompson and Tetsuya Motomura. The three traders allegedly operated from Japan, Singapore and the UK, submitting 'obscenely high' and 'silly low' LIBOR rates to benefit their own trading positions, the BBC reports. If convicted, the trio face up to 30 years in prison; however, none of the men is currently in US custody. The charges follow less than three months after Rabobank paid out more than $1bn (£610m) to global authorities to settle claims over key interest rate man...