Jailed former Rabobank trader Anthony Conti takes case to 2nd Circuit Court of Appeals

Former Rabobank trader Anthony Conti, who, along with his colleague Anthony Allen, was sentenced to a year and a day in prison earlier this month after judge Jedd in the United States found him guilty of rigging LIBOR rates, appealed his conviction and sentence to the Second Circuit on Monday this week. Mr. Conti was […]

court

Former Rabobank trader Anthony Conti, who, along with his colleague Anthony Allen, was sentenced to a year and a day in prison earlier this month after judge Jedd in the United States found him guilty of rigging LIBOR rates, appealed his conviction and sentence to the Second Circuit on Monday this week.

Mr. Conti was incarcerated on March 11 this year for manipulating the primary benchmark for global short-term interest rates, whilst Mr. Allen was sentenced to two years imprisonment for his part in manipulating the London Interbank Offered Rate (LIBOR).

At the time of delivering the sentence, Judge Rakoff said that he was “mystified” that prosecutors only went after institutions since punishing individuals has a deterrent effect on others in a profession where stepping over boundaries can be tempting if there is seemingly no penalty for doing so.

Additionally, Judge Rakoff stated that the US authorities had begun going after individuals as well as institutions when widespread crimes occur, citing that these employees were “extracting money from corporate parents, usually at the cost to their innocent shareholders.”

The Court of Appeals fo the Second Circuit is one of thirteen US Courts Of Appeals, and its territory comprises the states of Connecticut, New York and Vermont. An appeal ruling from the Second Circuit would be binding and difficult to overturn, the interesting matter being the anticipation of the outcome of this particular case compared to that of former Yen derivatives trader Tom Hayes who was jailed for 14 years in the UK and had his sentence cut to 11 years following an appeal.

Read this next

Retail FX

Weekly Roundup: Funded Trader closure, Coinbase adds Apple Pay

Welcome to this week’s roundup, where we delve into the latest developments in the Forex, Fintech, and cryptocurrency markets. Stay ahead of the curve with our comprehensive overview of the week’s most impactful events and trends across these dynamic sectors.

blockdag

Presale Rush: BlockDAG Outshines Furrever Token and DeeStream Presales with 20,000x ROI Potential, Raising Over $16.4M

Discover April 2024’s presale hits, as BlockDAG, Furrever Token, and DeeStream Presales battle it out. Which will explode in 2024?

Digital Assets

Shakeeb Ahmed gets three-year sentence for hacking Nirvana, Crema

A New York court has sentenced computer security engineer Shakeeb Ahmed to three years in prison for conducting flash loan attacks on decentralized cryptocurrency exchanges in 2022, marking the first-ever conviction for a breach involving smart contracts.

Digital Assets

TON Foundation teams up with HashKey on fiat access for Telegram Wallet

The TON Foundation, a collective of developers behind The Open Network (TON) blockchain, has entered into a strategic partnership with digital asset financial services firm HashKey Group.

blockdag

BlockDAG aka Kaspa’s Toughest Competitor Releases DAGpaper, Lightes Up The Las Vegas Sphere Pulling Shiba Inu Investors & Amassing $16.4M in Presale

BlockDAG, emerging as a Kaspa competitor, unveils its DAGpaper, spotlighting the Las Vegas Sphere and captivating Shiba Inu investors with a $16.4M presale success.

Fundamental Analysis

Global FX Market Summary: USD, ECB, Gold, Oil  April 12 ,2024

A strong US economy, cautious Fed policy compared to Europe, and safe-haven demand are all fueling the surge of the US Dollar.

Digital Assets

Thai crypto exchange Bitkub eyes $3 billion valuation

Thailand’s largest cryptocurrency exchange Bitkub is gearing up for a public offering next year with a potential valuation of up to $3 billion, according to Bitkub Capital Group CEO Jirayut Srupsrisopa.

Technical Analysis

GBPUSD Technical Analysis Report 12 April, 2024

GBPUSD currency pair can be expected to all further toward the next support level 1.2400, target price for the completion of the active minor impulse wave.

Market News

Navigating Currency Trends: Extensive Analysis on EUR/USD Signal

Traders Union provides comprehensive daily analysis and signals for EUR/USD.

<