Three Barclays Libor traders in New York were notified by U.K. prosecutors that they may be charged for allegedly manipulating the interest-rate benchmark, according to two people with knowledge of the situation.
Bloomberg reports that the U.K. Serious Fraud Office plans to act within a month against the trio in connection with suspected rigging of the dollar London interbank offered rate, or Libor, said the people, who asked not to be named because the investigation is private and declined to identify the traders.
It’s unclear if all three still work at the bank, according to one of the people. The SFO has sought to interview former Barclays traders in the U.S. and U.K. regarding Libor manipulation in recent months, Bloomberg reported last month.
These would be the first U.S.-based individuals charged in the British probe. Most of the eight people charged by U.S. authorities in their rate-rigging investigations worked in the U.K. Global enforcement agencies are investigating whether more than a dozen firms colluded to manipulate the rate, with about $6bn in fines levied to date.
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