Luxembourg Bank Denies Plotting To Tank Qatar's Currency

Law360, London (August 7, 2019, 12:33 PM BST) -- A private Luxembourg bank embroiled in a multibillion-dollar fraud lawsuit brought by Qatar has blamed the Gulf state's financial woes on a blockade imposed by its neighbors, telling a London court there was not a great conspiracy to rig local currency and bond markets.

Banque Havilland SA and Vladimir Bolelyy, a senior investment analyst at the bank, argued in a joint defense filing Monday there is no proof that they worked with other lenders in the United Arab Emirates and Saudi Arabia to destabilize Qatar's financial system in concert with an economic blockade imposed by the governments of the two countries....

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