EXTRADITION IN BANKING CASE
A DALKEITH man (49) faces extradition to the United States for alleged involvement in rigging the London Interbank Offered Rate (Libor) interest rate used for daily lending between banks. It is alleged many financiers acted corruptly when they set the rate to increase their profits between 1991 and about 2012, when the alleged actions were exposed. The man’s charges of fraud and bank fraud are linked to his job with Dutch bank Robobank in Singapore over six years until 2011. He is seeking bail, after being kept in Hakea Prison following his arrest last Thursday.