LIBOR RIGGING SCANDAL
Three men of British nationality
have been arrested at their homes by the City of London
Tue Dec 11, 2012 7:19PM GMT 1 0
Three men of British nationality have been arrested at
their homes by the City of London Police as part of a
criminal investigation connected to the Libor interest
rate manipulation. The unnamed men, including a former
Union Bank of Switzerland (UBS) trader and two employees
of interdealer broker RP Martin were taken into police
custody as part of a Serious Fraud Office (SFO)
investigation into the interest rate manipulation.
Three men, aged 33, 41 and 47, have been arrested
and taken to a London police station for interview in
connection with the investigation into the manipulation
of LIBOR. The men are all British nationals currently
living in the United Kingdom, said an SFO statement.
So far, British bank Barclays is the only bank to have
been fined over attempts to manipulate Libor. Back in
June, the bank paid a £290 million penalty to solve
investigations by the US and British authorities over its
attempts to manipulate key global borrowing rates.
Meanwhile, Royal Bank of Scotland (RBS) is expected to
announce its own settlement over Libor-rigging by
February 2013, while UBS is also said to be close to
reaching a deal over the allegations. According to
reports, the SFO was close to making arrests last month
and was poised to arrest former traders and rate setters
who had worked at all three of the banks.
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. disbelief Dec 11, 2012 9:17 PM This is money laundering
at the highest level.Banks defraud innocent people by
billions and then transfer a part of that back to the
government.You might as well call it the government's cut.
Not even a slap on the wrist for the corrupt individuals
at the top who made billions from the wind-fall. Not a
dime will find it's way back to the people that got stung.Money
laundering by the elite. That is all you can call it.