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U.S. wins first guilty plea from individual in LIBOR probe

HedgeWorld – A former Rabobank NV trader pleaded guilty on Tuesday [June 10] for his role in manipulating LIBOR, becoming the first person to admit guilt in a worldwide probe into alleged manipulation of interest rate benchmarks.

Takayuki Yagami, a Japanese national who specialized in yen derivatives, pleaded guilty to one count of conspiring to commit wire fraud and bank fraud before U.S. District Judge Jed Rakoff in Manhattan, the U.S. Department of Justice said.

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