Financier to be extradited
DALKEITH financier Paul Thompson is in Australian Federal Police custody for extradition to the United States over alleged participation in the multi-billiondollar London Interbank Offered Rate (LIBOR) scandal.
“Mr Thompson was taken into extradition custody today in anticipation of his surrender to the US,” a spokesman for the Federal Attorney General’s Department said, when the story was first reported by communitynews.com.au.
The spokesman would not comment on when Mr Thompson was due to be sent to the US, but said once extradited he would face prosecution.
US investigators have been questioning traders suspected of fixing the LIBOR to lend money between banks.
The LIBOR is also used as a base rate that sets many consumer lending rates, including credit cards, home mortgages and interest.
It was alleged the LIBOR was manipulated daily since the early 1990s, prompting investigations, reforms and fines up to $US1.5 billion for some banks.
Mr Thompson was the managing director and head of liquidity at the Singapore headquarters of the Dutch Rabobank between 1996 and 2001, when fixing is alleged to have occurred.
In 2014, he and four colleagues from the bank’s Tokyo and London offices were charged by a US grand jury with conspiracy to commit wire and bank fraud.
Mr Thompson was arrested in October last year, and was on bail and reporting to WA Police daily until last week.