Paul Robson, a former trader at Rabobank, has become the first Briton to plead guilty to being part of the worldwide conspiracy to rig the Libor interest benchmark.
The executive, who worked at the Dutch bank's London office, admitted before a New York court to one count of bank fraud and wire fraud, as part of a conspiracy that also involved the taxpayer-backed Lloyds Banking Group.
The scheme, which was designed to boost profits at the companies involved, which affected mortgage rates and pension payments around the world, estimated to have cost the public trillions of pounds. ...
... For the remainder of the report:
http://www.telegraph.co.uk/finance/libor-scan...rst-Briton-p...
