Bird Marella principal Gary Lincenberg spoke with Bloomberg News regarding the recent acquittal of six ex-brokers in a London Libor-Rigging trial. Focus now turns to the U.S., having previously brought charges against three of the six brokers relating to similar conduct, but stopped short of indicting them or seeking extradition. Legal experts are predicting that there is a slim chance that the Justice Department can bring the brokers to trial after their acquittals in the U.K. Furthermore, due to the brokers’ conduct getting a full vetting by the U.K.’s criminal system, bringing a case against the three could be counterproductive for collaboration on future cases.
Mr. Lincenberg stated, “Assuming the U.S. prosecution was based on the same underlying conduct, a successive prosecution would be a direct affront to the integrity of the judicial system of one of our closest allies.”
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