Wednesday, November 25, 2020

Tag: Bankers Get Their Criminal Convictions Overturned

Bankers Get Their Criminal Convictions Overturned

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by Martin Armstrong, Armstrong Economics:
The Second Circuit Federal Court of Appeals overturned the convictions of two former Rabobank traders in the LIBOR London interbank market manipulation scandal saying the men’s Fifth Amendment right against self-incrimination had been violated. Former Rabobank traders Anthony Conti and Anthony Allen, was sentenced to a year and a day in prison by Judge Rakoff who said that he was “mystified” that prosecutors only went after institutions since punishing individuals has a deterrent effect on others in a profession.