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Screenshot of a breaking news alert e-mail from Q2 2017
The UK Serious Fraud Office (SFO) continues its investigation into Euro Interbank Offered Rate (EURIBOR) manipulation.
On Monday, the SFO published a brief update, stating that former Societe Generale SA (EPA:GLE) employee Stephane Esper was included in the list of individuals to stand trial over alleged EURIBOR manipulation.
Mr Esper will make his first appearance at Westminster Magistrates’ Court on January 11, 2016.
Mr Esper is the 11th individual in the list, which already includes four former employees of Barclays PLC (LON:BARC) and six former employees of Deutsche Bank AG (FRA:DBK). All of them are set to be charged with conspiracy to defraud.
The SFO says that criminal proceedings will be issued against other individuals in due course.
The investigation into EURIBOR was launched as a result of the SFO’s broader investigation of the manipulation of the London Interbank Offered Rate (LIBOR). Yesterday, Tom Hayes, who was convicted of manipulation of LIBOR in August this year, had his prison sentence reduced from 14 years to 11 years.
You can find additional information on SFO’s investigation into EURIBOR manipulation by clicking here.