Former Barclays traders face criminal charges for Libor manipulation

U.S. and British authorities may now be opening up a new front in the case with these charges

Multiple financial institutions have been hit with civil penalties surrounding the ongoing London interbank offered rate, or Libor scandal, but criminal cases have been kept to a minimum. However, new criminal charges against three former Barclays bank traders could be the beginning of a new area of interest in the case.

On Feb. 17, the U.K. Serious Fraud Office charged the three former traders with conspiracy to defraud in the scheme that rigged benchmark interest rates. According to the Wall Street Journal, three former brokers from ICAP are also likely to soon be charged in connection with the case.

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Zach Warren

Zach Warren is Assistant Editor of InsideCounsel magazine, where he oversees online content submissions and administers InsideCounsel's enewsletters. Zach specializes in new media and multimedia...

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