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US accuses two bankers of Libor manipulation

Department of Justice indicts duo for allegedly manipulating the key interest rate while at Societe Generale

US accuses two bankers of Libor manipulation

Two bankers were indicted in the US on allegations that they manipulated a key benchmark interest rate while at French lender Societe Generale, in the latest US attempt to prosecute alleged participants in a multibillion-dollar scandal that roiled global markets.

The US Justice Department accused Danielle Sindzingre and Muriel Bescond of instructing their subordinates to submit inaccurately low figures that were then used to calculate the London interbank offered rate, or Libor, according to Thursday’s indictment in US District Court in Brooklyn.

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