BANKING/DOLLAR/FOREIGN POLICY/LEGAL: “United States authorities on Thursday [8-24-17] charged two managers at the French bank Société Générale with taking part in a scheme to manipulate a global benchmark interest rate known as Libor.
Danielle Sindzingre, 54, the bank’s former global head of treasury, and her subordinate, Muriel Bescond, 49, the bank’s former head of treasury in Paris, were accused in an indictment of submitting false information about the rates at which the bank was able to borrow money. The indictment was filed in the United States District Court for the Eastern District of New York.
The two defendants are not in the United States, according to John Marzulli, a spokesman for federal prosecutors in Brooklyn. He declined to comment on whether or when they might be extradited.
Lawyers for the defendants could not immediately be identified. Société Générale did not immediately respond to requests for comment.
Ms. Sindzingre is listed on the bank’s website as global co-head of fixed income, credit and currencies. Ms. Bescond’s LinkedIn page says she is global head of short-term derivatives…
Prosecutors said that from about May 2010 to October 2011, Ms. Sindzingre, Ms. Bescond and several other people who are not charged or named in the indictment caused Société Générale to report false lower rates that were used to set the United States dollar Libor.”
-Reuters, “U.S. Accuses Société Générale Bankers in Libor Scheme,” The New York Times online, Aug. 24, 2017