SFO secures arrest warrants for five Euribor traders

UK-Currency-Money-Coin-Pounds-GBP-700x450The Serious Fraud Office has obtained arrest warrants for five European bankers accused of conspiracy to rig Euribor benchmark interest rates.

The five traders at Deutsche Bank and Societe Generale have remained in their home countries to face the charges and failed to appear in court, lawyers for the SFO said at Southwark Crown Court, reports Bloomberg.

Arrest warrants are for former Deutsche Bank employees Kai-Uwe Kappauf, Joerg Vogt, Andreas Hauschild, Ardalan Gharagozlou and former Soc Gen trader Stephane Esper.

In January, the five ex-traders were part of the 11 people facing charges for rate rigging.

These included Deutsche Bank’s Christian Bittar and colleague Achim Kraemer and ex-Barclays employees Colin Bermingham, Carlo Palombo, Philippe Moryoussef and Sisse Bohart.

Achim and Bittar, who was ordered to front £1m in bail ahead of the trial, were the only two who showed up at the hearing.

Kappauf, Vogt, Hauschild and Gharagozlou failed to show up.

At that time, the SFO did not request arrest warrants for those who failed to attend.