Traders Under Investigation For LIBOR Rigging Keep Turning Up At Swiss Hedge Funds
If you've been following the LIBOR interest-rate rigging scandal that is causing Wall Street to implode right now, you may be aware that major global banks all over the world are being dragged into the mess.
Individual traders from these banks are getting pinned with the blame. Bloomberg reports that Michael Zrihen at Credit Agricole, Didier Sander at HSBC, and Christian Bittar at Deutsche Bank are all under investigation over their involvement in the manipulation of LIBOR.
The interesting thing is that none of these traders even actually work for the banks in question anymore. In fact, they've all been gone for a while.
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The financial blog Zero Hedge did some digging on LinkedIn yesterday and they found several traders – Zrihen, Sander, and Bittar included – that ended up at various Swiss hedge funds on essentially the same desks they were on while working at the banks, trading interest rate derivatives.
Read more: http://www.businessinsider.com/traders-accused-of-libor-rigging-keep-turning-up-at-swiss-hedge-funds-2012-7#ixzz21O71RRkd
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