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Share Price: 202.00
Bid: 202.40
Ask: 202.50
Change: -3.15 (-1.54%)
Spread: 0.10 (0.049%)
Open: 205.75
High: 206.10
Low: 197.68
Prev. Close: 205.15
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UPDATE 2-UK's Serious Fraud Office to charge 11 over Euribor-rigging

Mon, 21st Dec 2015 20:28

(Adds comment from Societe Generale)

By Carolyn Cohn

LONDON, Dec 21 (Reuters) - Britain's Serious Fraud officesaid on Monday it would next month charge 11 individuals accusedof rigging the Euribor interest benchmark with conspiracy todefraud.

In the latest phase of a global investigation into allegations of manipulating benchmark interest rates, the 11individuals, all former or current employees of Barclays and Deutsche Bank except one, will appear atWestminster Magistrates' court on Jan 11, the SFO said in astatement.

The SFO named 10 of the individuals last month. On Monday itadded the name of Stephane Esper, a former employee of SocieteGenerale.

The 10 men and one woman will face the first criminalproceedings for alleged manipulation of the Euribor benchmark.

Authorities have been working to lay more charges againstthose they allege fixed rates such as Libor, the Londoninterbank offered rate, and its euro equivalent Euribor. Thecriminal trials that have already taken place have shed light onbanker practices before, during and after the 2007-2009financial crisis.

Esper has been notified of the criminal proceedings, an SFOspokeswoman said.

A spokeswoman for Societe Generale in Paris said Esper leftthe bank in 2009 but declined to comment further.

Of the other 10 accused, those who once worked or still workfor Deutsche Bank were named as Christian Bittar, Achim Kraemer,Andreas Hauschild, Joerg Vogt, Ardalan Gharagozlou and Kai-UweKappauf.

Former Barclays bankers were named as Colin Bermingham,Carlo Palombo, Philippe Moryoussef and Sisse Bohart, a woman. (Reporting by Carolyn Cohn and Simon Jessop; Editing by SineadCruise, Greg Mahlich)

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