Deutsche Cooperator Skirts Prison In Libor-Rigging Case

Law360, New York (February 8, 2019, 8:32 PM EST) -- A former Deutsche Bank trader who testified in the trial of his onetime colleagues over claims they rigged the London Interbank Offered Rate to benefit the lender’s trading positions was spared a prison term on Friday and fined $1 million for his role in the purported scheme.

Timothy Parietti, a 52-year-old former managing director on Deutsche Bank’s money market derivatives desk, was sentenced to time served with three years of supervised release by U.S. District Judge Paul Engelmayer in Manhattan, who said he saw no need for an incarceratory term. Parietti was also ordered to perform 500 hours of community service....

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