Ex-Rabobank Trader Sued in Singapore Over Libor Rigging Claims
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Former Rabobank Groep trader Tetsuya Motomura was sued by a Singapore hedge fund that hired him as chief investment officer and claims he deliberately concealed that he was being probed for rigging benchmark interest rates.
Omae Capital Management Pte is seeking S$3.75 million ($2.7 million) from Motomura, who told the firm about six months after it started operations that he had been charged in the U.S., according to a lawsuit filed in October. Motomura’s lawyer asked the Singapore High Court last week to dismiss the suit as it hadn’t been served properly.