On June 2, two former Deutsche Bank traders were charged in connection with their alleged roles in a scheme to manipulate the U.S. Dollar LIBOR. A grand jury sitting in the Southern District of New York returned a 10-count indictment charging Matthew Connolly and Gavin Campbell Black with one count of conspiracy to commit wire fraud and bank fraud and nine counts of wire fraud for their participation in the illegal conduct. In April 2015, Deutsche Bank entered into a deferred prosecution agreement to resolve wire fraud and antitrust charges, and Deutsche Bank Group Services (UK) Limited pled guilty to one count of wire fraud, collectively agreeing to pay a $775 million fine, for the bank’s role in engaging in a scheme to defraud counterparties to interest rate derivatives trades by secretly manipulating U.S. Dollar LIBOR and other currencies submissions. United States v. Connolly, 16-cr-370 (S.D.N.Y.). DOJ Press Release.