The Executive

The Executive Gateway: News, Life, Work - It All Starts Here

1 note &

Former UBS Traders Are Getting A Deal To Snitch On Their Old Coworkers


The international probe into LIBOR manipulation rages on.

LIBOR is a key benchmark rate used all over the world to set borrowing rates.

According to the Wall Street Journal’s Jean Eaglesham and Joe Palazzolo, some ex-UBS traders may get leniency if they dish on their LIBOR-manipulating ex-coworkers.

U.S. prosecutors have agreed to shield several former UBS AG  employees from criminal charges in return for their cooperation with the escalating investigation of suspected interest-rate manipulation, according to a person close to the probe.

The leniency deal was offered to former traders and other employees who had relatively junior-level jobs at the Swiss bank, the person said.



Read More: Businessinsider

Filed under UBS Traders Snitch Libor Fixing Scandals WallStreet

  1. execgate posted this