3 ex-Barclays employees accused over rate manipulation

Regulators in Britain said on Monday that they had begun criminal proceedings against three additional former Barclays employees suspected in the manipulation of a global benchmark interest rate.

The New York Times reports that the Serious Fraud Office said that Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich, all former employees of Barclays in New York, would face charges of conspiracy to defraud as part of the agency’s investigation into the manipulation of the London interbank offered rate, or Libor.

The three men, who all currently live in the United States, are set to appear in Westminster Magistrates’ Court next month.

Three other former Barclays employees were charged in February, just over a year and a half after Barclays became the first bank to settle with American and British authorities over manipulation of global benchmark interest rates. It paid $450m in penalties.

To access the complete New York Times article hit the link below:

3 More ex-Barclays Employees Face Charges in Libor inquiry

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