Lawyers spar in 2 British ex-bankers' interest rates trial

AP News
Posted: Nov 03, 2015 4:48 PM

NEW YORK (AP) — A federal prosecutor tells jurors two British ex-bankers "left a paper trail a mile long" as they tried to manipulate worldwide interest rates to benefit themselves. But defense lawyers say the case lacks proof and insist their clients are not guilty.

The two sides made closing arguments Tuesday in the trial in New York of 44-year-old Anthony Allen and 46-year-old Anthony Conti.

Prosecutor Brian Young cited several emails as "rock-solid evidence" the two men conspired for years to rig a measurement of London-based interbank interest rates to benefit themselves and their former employer, the Dutch bank Rabobank.

Defense lawyers say the men never conspired to influence interest rates and did nothing wrong.