Dutch minister calls for Rabobank banker / trader prosecutions

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Rabobank traders and bankers involved in an interest-rate rigging scandal should be prosecuted, Dutch Finance Minister Jeroen Dijsselbloem told a local broadcaster, acknowledging public anger over the bank's conduct.

Reuters reports that last month, U.S. and European regulators fined the Dutch cooperatively owned bank $1bn for manipulating benchmark interest rates and its chief executive, Piet Moerland, resigned.

Rabobank said 30 staff were involved in 'inappropriate conduct' relating to the London Interbank Offered Rate (Libor) and its Euribor cousin - benchmarks for more than $300tril of financial assets.

'You should not be allowed to get away with this type of fraud', Dijsselbloem said in an interview with broadcaster RTL on Tuesday, adding that prosecutors should 'take a hard look' at prosecuting those responsible.

'A lot of people don't understand, myself included, that it's possible to get away with this type of fraud and that's the impression this gives'.

To access the complete Reuters article hit the link below:

Dutch finance minister calls for Rabobank prosecutions over Libor scandal

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