U.S. Seeks Lengthy Prison Terms for Former Rabobank Traders
- Trader and ex-colleague seek no prison time for Libor-rigging
- Both are to be sentenced next week in New York federal court
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Two former Rabobank Groep traders convicted of rigging the London interbank offered rate should get lengthy prison terms to reflect the seriousness of their crimes, U.S. prosecutors said.
Anthony Allen and Anthony Conti, the two former traders who are scheduled to be sentenced next week, pleaded for leniency, arguing they shouldn’t be sent to prison because their Libor submissions weren’t fraudulent and by its nature the rate was subjective and “nearly impossible” to fix during the financial crisis.