A unit of NatWest Group on Tuesday agreed to pay about $35 million and pleaded guilty to wire and securities fraud in relation to a long-running scheme by some of its traders to manipulate US Treasury debt markets.
The lender’s minnow investment bank NatWest Markets admitted its traders engaged in schemes to manipulate US Treasury markets over a decade up to 2018.
The firm agreed to serve three years of probation in addition to the fine and restitution, the Department of Justice said in a statement.
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