On August 24, 2017, Danielle Sindzingre and Muriel Bescond, both French bank managers, were indicted and charged with one count of conspiring to transmit false reports concerning market information that tends to affect a commodity, as well as four counts of transmitting these false reports. The two French bank managers allegedly transmitted false and misleading information in connection with the London Interbank Offer Rate (LIBOR), a benchmark interest rate that is calculated for various currencies around the world. According to the indictment, Sindzingre and Bescond knowingly instructed their subordinate employees to submit low LIBOR contributions, making it appear as though their bank was able to borrow money at lower rates than it actually was. Both Sindzingre and Bescond knew that this information was false. The estimated harm of the defendants’ conduct is over $170 million. United States v. Sindzingre, No. 17-cr-464 (E.D.N.Y.).