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Rate-Fixing Settlements Are Just Tip of the Iceberg


In total RBS, Barclays and UBS will pay nearly $3 billion in fines stemming from the multi-year practice of artificially suppressing these benchmark interest rates, a practice that spanned the financial crisis and beyond. While the fines vary, the charges are becoming more egregious.



Bernie Madoff

Ex-Madoff associate avoids prison

A former associate of Bernard Madoff avoided prison on Thursday for his role in perpetuating the fraudster’s massive Ponzi scheme because of his extensive cooperation with prosecutors.

Citi Building Sign

Citigroup ordered to pay Mercuria $14m

Citigroup has been ordered to pay commodities merchant Mercuria almost $14m as part of prolonged legal wrangling over Chinese metals financing deals hit by suspected fraud, a report on Wednesday said.