Infotech

Libor scandal: whistleblower receives record bounty of $ 200 million



Posted on Oct 22, 2021, 11:50 a.m.Updated on Oct 22, 2021, 1:47 PM

A record. A former Deutsche Bank banker will collect $ 200 million from the US futures and commodities regulator. The Commodity Futures Trading Commission (CFTC) pays this whistleblower for his information in one of the biggest financial scandals of recent years. Numerous international banks, organized in shadow cartels, have for years manipulated Libor rates, benchmark rates for interbank markets. Traders have made huge profits by coordinating their actions.

An informant can hope to receive between 10% and 30% of the amount of the fine that will be collected by the authorities thanks to him. In 2015, Deutsche Bank was fined $ 2.5 billion. The premium paid to the former banker represents two-thirds of all the sums paid by the CFTC to its informants since 2014.

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