On 10 June 2014, a former Rabobank trader, Takayuki Yagami, pleaded guilty in a New York federal court to one count of conspiracy to commit wire fraud and bank fraud for manipulating the yen LIBOR to benefit his trading positions, the U.S. Department of Justice has reported. Mr Yagami admitted to conspiring with Paul Robson from the UK, Paul Thompson from Australia and Tetsuya Motomura from Japan. Messrs Robson, Thompson and Motomura were charged with 15 counts of conspiracy to commit wire fraud and bank fraud as well as substantive counts of wire fraud. In October 2013 Rabobank agreed to pay $1.07 billion to international regulators to settle a LIBOR investigation.