U.S. prepare criminal case against banks that fixed interest rates in global scandal


The investigation into the LIBOR interest rate-rigging scandal is widening as the U.S. Justice Department is expected to file criminal charges against individual employees and at least one bank later this year.

As well as building cases against several banks, the department’s criminal division is also targeting individuals at the center of the scandal, including traders at Barclays, according to government officials who spoke anonymously to The New York Times.

In a global investigation, authorities are examining whether financial firms fraudulently manipulated interest rates to improve their profits and appear healthier than they were.

Last month British bank Barclays was fined $453 million after admitting to influencing the LIBOR (London Interbank Offered Rate). http://www.dailymail.co.uk/news/article-2173859/Libor-scandal-U-S-p...

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Comment by truth on July 16, 2012 at 6:10am

Comment by truth on July 16, 2012 at 6:09am

Comment by truth on July 16, 2012 at 5:02am

News for LIBOR i


Toronto Star
  1. Libor Flaws Allowed Banks to Rig Rates Without Conspiracy

    Businessweek‎ - 4 hours ago
    Flaws in the way Libor is set allowed individual banks to manipulate the key global interest rate for profit for years, according to traders.

$350-trillion Libor financial scandal makes fools of us

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