You are here

UBS tried to tap leniency programme but Justice Dept refused

Bank's defence team led by the man who revived the US gov't programme

FAILED APPEALS: UBS escaped criminal charges over currency rigging. Yet its main unit was forced to plead guilty to manipulating interest rates.


UBS Group, in its bid to escape US criminal charges of manipulating currency markets, turned to "the godfather of leniency". As a Justice Department prosecutor in the early 1990s, Gary Spratling spearheaded a programme that encouraged wrongdoers to admit to collusion to escape