Britain begins first Euribor rate-rigging case

* One woman and 10 men to be charged formally

* Accused are former Deutsche Bank, Barclays and SocGenemployees

By Kirstin Ridley

LONDON, Jan 11 (Reuters) - Eleven former Deutsche Bank, Barclays and Societe Generale employees are due on Monday to become the first people chargedformally with conspiracy to rig Euribor, an internationalbenchmark used to set interest rates on a wide range offinancial products, including mortgages.

In the latest chapter of a global rate-fixing inquirykick-started by U.S. regulators in 2008, 10 men and one womanare due to appear at Westminster Magistrates' Court in London tobe charged with plotting to manipulate Euribor, the Eurointerbank offered rate.

Global investigations have so far culminated in banks andbrokerages paying about $9 billion in regulatory settlements andmore than 30 individuals being charged.

The former middle managers, traders and Euribor ratesubmitters appearing in court on Monday span six nationalitiesand are resident in countries ranging from the United States toDenmark and Singapore.

Frenchman Christian Bittar, a Singapore-based star traderwho was once one of Deutsche Bank's most profitable moneymarkets managers, will be joined in court by former Germancolleagues Achim Kraemer, Andreas Hauschild, ArdalanGharagozlou, Joerg Vogt and Kai-Uwe Kappauf.

Also in the dock are four former Barclays employees:Frenchman Philippe Moryoussef, Briton Colin Bermingham, DaneSisse Bohart and British and Italian dual national CarloPalombo. The line-up is completed by French former SocieteGenerale trader Stephane Esper.

Lawyers for Bittar and Hauschild have said that theirclients would contest the allegations vigorously. Lawyers forVogt and Palombo have declined to comment and others did notrespond to requests for comment.

Designed to reflect the cost at which banks can borrow fromeach other in different currencies over varying time frames,rates such as Euribor and the London interbank offered rate(Libor) are benchmarks for about $450 trillion of financialproducts.

Monday's proceedings represent the fourth rate-riggingprosecution launched by the UK's Serious Fraud Office since itjoined the global inquiry belatedly in 2012.

U.S. and British prosecutors have each concluded one jurytrial to date, with one trial continuing in London and anotherscheduled to begin in London next month.

The cases are coming to court more than three years afterBarclays became the first bank to reach a global settlement withauthorities in 2012, admitting that its traders tried to rigLibor and Euribor from 2005 through 2009. It was fined $450million.

Since then, 10 other major financial institutions have beenfined in Europe and the United States for their role in thesaga, including UBS, Lloyds, JPMorgan, Citigroup and ICAP.

Deutsche Bank was fined a record $2.5 billion last April. Aspart of that deal its London-based subsidiary pleaded guilty tocriminal wire fraud and the parent group entered a deferredprosecution agreement to suspend criminal charges. (Editing by David Goodman, Greg Mahlich)