BERLIN (AP) — Swiss bank UBS says it is pleading guilty to wire fraud and is paying $545 million to settle U.S. cases of market manipulation.
The bank said recently that under the deal with U.S. authorities it will be granted conditional immunity from prosecution in a Department of Justice probe on the manipulation of foreign
exchange rates.
It will however pay a $342 million fine to the Federal Reserve.
It will separately pay a $203 million fine to the DOJ for manipulating a key market interest rate called the London Interbank Offered Rate.
The bank said “the conduct of a small number of employees was unacceptable and we have taken appropriate disciplinary actions.”
- Posted June 02, 2015
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Swiss bank UBS settles U.S. cases for $545M
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