UBS Pleads Guilty in Libor Case
May 20 2015 - 1:50AM
Dow Jones News
ZURICH—UBS AG will plead guilty to one count of wire
fraud and pay a $203 million fine for its role in an interest-rate
rigging scheme, after the U.S. Justice Department revoked an
earlier agreement to settle the matter with Switzerland's largest
bank.
In a statement Wednesday, Zurich-based UBS said the Justice
Department had revoked a non-prosecution agreement after the bank
allegedly violated the terms of a 2012 settlement related to
interest-rate manipulation.
The Justice Department voided the agreement, which specified UBS
would "commit no United States crime whatsoever" for a two-year
period following the settlement, after an investigation into the
global foreign exchange market that included the bank.
UBS said it hasn't been charged in the foreign exchange
investigation and that the new fines won't affect its earnings.
Write to Neil MacLucas at neil.maclucas@wsj.com
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