Bloomberg News reports that Mohideen, the former head of rates trading for Europe and Asia-Pacific, filed his lawsuit at a London employment tribunal, according to court documents that didn’t give any further details about the case. He is at least the second former employee to sue the bank in London over the Libor probe.
Revelations that banks manipulated global interest-rate benchmarks have triggered regulatory fines totalling more than $6bn, a European competition probe and criminal prosecutions of some of the traders involved. RBS agreed to pay about $600m to U.S. and U.K. regulators over rigging charges, and was among six companies fined a record $2.3bn by the European Union in December.
When contacted by telephone in 2012 by Bloomberg News, Mohideen denied pressuring colleagues to submit false rates, saying: 'That didn’t ever happen'.
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