US: DOJ Forex, Libor prosecutor stepping down next month

The Department of Justice prosecutor who oversaw key investigations into allegations of foreign exchange market and LIBOR benchmark rigging announced she is stepping down after 17 years at the regulator.

Reports say Mythili Raman, acting head of the DOJ’s criminal division for the last year, said she will depart from the authority on March 21. Former deputy attorney general Paul McNulty said her departure will not likely cause major disruptions to ongoing cases.

An investigation into allegations of foreign exchange rigging remains ongoing.

Raman’s replacement is set to be Leslie Caldwell, who awaits Senate confirmation to take the position. Caldwell is the former head of the DOJ’s Enron Task Force, according to reports.

In an interview, Raman said she spearheaded the DOJ’s efforts to cooperate with some of the world’s largest banks, including Barclays and UBS, to gain information regarding alleged rate-rigging as the current forex manipulation case comminutes to be investigated by the US and other regulators around the globe. Further, she said she successfully earned increased funding from Attorney General Eric Holder to aid the investigation.

Full Content: Bloomberg

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