A group of former bankers on Monday became the first to be formally charged with manipulating the Euro Interbank Offered Rate (Euribor) - a daily reference rate compiled from estimates that Eurozone banks give of their cost of borrowing.
The case involves former employees of Deutsche Bank, Barclays and Societe Generale, and includes former middle managers, traders and rate submitters of six nationalities.
However, nearly half of the defendants were no-shows in the London court, with just six of the total 11 suspects appearing for the preliminary hearing. A first hearing was scheduled for Wednesday.
Lawyers for the absentees, four of them German and one French, cited different reasons for their clients' nonattendance, including ongoing investigations in Germany.
Read more: Bankers charged in euro rate-rigging case | Business | DW.COM | 11.01.2016
The case involves former employees of Deutsche Bank, Barclays and Societe Generale, and includes former middle managers, traders and rate submitters of six nationalities.
However, nearly half of the defendants were no-shows in the London court, with just six of the total 11 suspects appearing for the preliminary hearing. A first hearing was scheduled for Wednesday.
Lawyers for the absentees, four of them German and one French, cited different reasons for their clients' nonattendance, including ongoing investigations in Germany.
Read more: Bankers charged in euro rate-rigging case | Business | DW.COM | 11.01.2016
