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Former SocGen trader accused of Euribor rigging faces quandary

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Former SocGen trader accused of Euribor rigging faces quandary

A benchmark interest-rate case in France against a former trader at Société Générale SA has been put on hold until he faces another U.K. court regarding a similar issue, Bloomberg News reported Oct. 30.

Stephane Esper sought about $9.1 million under French labor law, claiming that his financial career was in ruins after he was outed as one of those accused by the U.K. Serious Fraud Office of manipulating the euro interbank offered rate.

However, a Paris tribunal ruled that he will need to face charges in the U.K. in order to take the French case further.