EX­TRA­DI­TION IN BANK­ING CASE

Western Suburbs Weekly - - News -

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.

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