Criminal Prosecution, Market Manipulation, Criminal Conspiracy

The End of LIBOR: Hotel California Edition [Part V]

ArentFox Schiff on 9/5/2025

In a recent alert, we highlighted the United Kingdom (UK) benchmark manipulation cases of Tom Hayes and Carlo Palombo from 2015 and 2019, respectively. Hayes was the first banker to be jailed in the LIBOR scandal....more

Hong Kong CFI Jury Convicts Three Individuals in Its First Market Manipulation Case

Latham & Watkins LLP on 6/13/2024

The first-ever SFO offence to be tried by a jury in the CFI emphasises the SFC’s commitment to prosecuting market misconduct through various enforcement powers. The Hong Kong Court of First Instance (CFI) has convicted...more

Fallout from the Glencore resolutions & lessons learned

BCLP on 6/13/2022

On 24 May 2022, Glencore International AG announced a series of coordinated resolutions with various international enforcements agencies including the Department of Justice (”DOJ”), the Commodity Futures Trading Commission...more

Financial Daily Dose 3.6.2020 | Top Story: Volatility Reigns as Stocks Dive Over Continued COVID-19 Fears

Robins Kaplan LLP on 3/6/2020

Volatility’s the name of the game again, folks, and we have COVID-19 to thank. Just a day after markets jumped in response to central bank and Super Tuesday news, the dove again some 3% as virus-related fears took hold again....more

Leader of International Pump-and-Dump Sentenced to 216 Months

Dorsey & Whitney LLP on 3/21/2016

The man who orchestrated a large international microcap market manipulation involving at least 34 persons was sentenced to serve 216 months in prison after pleading guilty. Harold Gallison, pleaded guilty to two counts of...more

UK's Serious Fraud Office Secures LIBOR Conviction

WilmerHale on 8/10/2015

On Monday, August 3, Tom Hayes was convicted and sentenced to 14 years’ imprisonment for his part in the manipulation of the London Interbank Offered Rate (LIBOR). The result has attracted attention because it was the first...more