SFO prepares Libor charges against bankers and traders

Pointing The Finger

British authorities are preparing charges against several more bankers and traders in connection with the Libor-rigging scandal, the country’s top fraud investigator has revealed.

The Daily Telegraph reports that David Green, director-general of the Serious Fraud Office, said the agency was in the process of an 'enormous' investigation into interest rate manipulation, with about a fifth of its staff now working on the inquiry.

'I am sure there will be more charges against others,' said Green in an interview with The Sunday Telegraph in which he also acknowledged a rift with the US over the handling of the investigation.

Three men have already been charged by the SFO over allegations they were involved in attempts to rig the benchmark index, including former Citigroup and UBS trader, Tom Hayes. The SFO currently has a team of 60 working on the investigation, out of a total staff of more than 300.

To access the complete Daily Telegraph article hit the link below:

SFO plots charges over Libor scandal

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