BREAKING NEWS

Ex-Deutsche Bank trader pleads not guilty in US in Libor case

By REUTERS

SEPTEMBER 8, 2016 18:48

A former Deutsche Bank AG trader pleaded not guilty on Thursday to US charges that he conspired to manipulate Libor, the benchmark interest rate at the center of global investigations into misconduct at various banks.

Gavin Black, a former director on Deutsche Bank's money market derivatives and pool trading desks in London, entered his plea in federal court in Manhattan to conspiracy and wire fraud charges after waiving extradition from Britain.

The 46-year-old was indicted in June along with Matthew Connolly, formerly Deutsche Bank's director of the pool trading desk in New York, becoming one of four onetime employees at the bank to be charged by the US Department of Justice.

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