The US Court of Appeals for the Second Circuit dismisses the indictments of two individuals accused of playing a role in the LIBOR case and clarifies the Fifth Amendment law in international cartels (Allen)

SECOND CIRCUIT CLARIFIES FIFTH AMENDMENT LAW, WITH IMPLICATIONS FOR US PROSECUTION OF INTERNATIONAL CARTELS* On July 19, 2017, the Second Circuit vacated the convictions and dismissed the indictments of two individuals accused of playing a role in the manipulation of the London Interbank Offered Rate (LIBOR). United States v. Allen, No. 16-898-cr, Slip Op. at 3 (2d Cir. July 19, 2017). The ruling was based on the Fifth Amendment to the US Constitution, which provides that “[n]o person . . . shall be compelled in any criminal case to be a witness against himself.”

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Authors

  • McDermott Will & Emery (Washington)
  • McDermott Will & Emery (Brussels)
  • McDermott Will & Emery (Dusseldorf)
  • McDermott Will & Emery (Washington)
  • McDermott Will & Emery (Brussels)

Quotation

Gregory E. Heltzer, Andrea L. Hamilton, Christian Krohs, Daniel Powers, David Henry, The US Court of Appeals for the Second Circuit dismisses the indictments of two individuals accused of playing a role in the LIBOR case and clarifies the Fifth Amendment law in international cartels (Allen), 19 July 2017, e-Competitions Due Process Research Program, Art. N° 93322

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