Ex-UBS trader loses bid to have Libor case dismissed

Gavel Jason Morrison

A former UBS trader charged as part of a U.S. investigation into Libor rate manipulation lost a bid to have the case dismissed on Monday, with a federal judge ruling that a fugitive from U.S. justice had no right to mount a legal challenge.

Reuters reports that U.S. District Judge Paul Crotty in Manhattan said Roger Darin, a Swiss citizen, was 'flouting judicial process' by remaining in his home country to avoid arrest while sending lawyers to ask the judge to dismiss the case.

Darin's lawyers argued he was not a fugitive since he had never fled, let alone appeared, in the United States since the U.S. Justice Department filed its criminal complaint in 2012.

But Crotty said his ruling was in line with 'the realities of modern criminal prosecutions'.

Bruce Baird, Darin's lawyer, in a statement said: 'We think the judge misunderstood and misapplied the law, and we look forward to an appeal'.

To access the complete Reuters article hit the link below:

'Fugitive' ex-UBS trader cannot escape U.S. case over Libor: judge

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