Feds Call Ex-Deutsche Traders 'Emblematic' Of Banking Ills

Law360 (October 11, 2019, 9:28 PM EDT) -- Federal prosecutors say two former Deutsche Bank traders’ deserve substantial prison time for Libor rigging as a crime “emblematic” of big banks’ bad behavior, while the traders argue that they had already suffered enough as two of the few to be prosecuted over the international scandal.

Former Deutsche traders Matthew Connolly and Gavin Black are scheduled to be sentenced on Oct. 24 for their roles in rigging the London Interbank Offered Rate to benefit Deutsche Bank’s trades in Libor-tied derivatives.

In filings Thursday, federal prosecutors with the Justice Department and attorneys for the two men expressed competing interpretations of how much...

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