Former Barclays bankers jailed for Libor fraud

Former Barclays traders handed lengthy jail terms for Libor riggingManipulating benchmark rates for gain

Four former Barclays bankers have been handed down jail time following a three-month trial at Southwark Crown Court in London, England. The charges related to conspiring to fraudulently rig global benchmark interest rates between 2005 and 2007 and the convictions represent a victory for the Serious Fraud Office (SFO), which has been pursuing investigations into the Libor scandal for some years but has achieved just one other successful prosecution against six acquittals. Two more Libor-fixing cases by other former Barclays bankers are still under investigation. Read more…

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