Darrell Read, in 2013, was charged by US prosecutors with two counts of wire fraud and another of attempting to commit wire fraud. American prosecutors have dropped charges against a New Zealand resident accused of conspiring to manipulate benchmark interest rates. The move comes near six months after the Wellington man was acquitted in the United Kingdom of similar allegations. But some three years after charging Read, US prosecutors have now dropped the case. "The United States moves to dismiss the complaint because of the final adjudication of the case against these defendants for the same underlying conduct in the United Kingdom," prosecutors said in a filing with a court in the Southern District of New York last month.

Source: New Zealand Herald July 11, 2016 01:07 UTC