More Libor-manipulation charges likely


The U.K. Serious Fraud Office is readying more criminal charges this year against traders in its Libor-manipulation probe, according to people with knowledge of the matter.

Bloomberg News reports the charges will cover the rigging of several London interbank offered rate benchmarks, said one of the people, who asked not to be identified because the discussions are private. Libor rates are set daily for five currencies: dollar, sterling, euro, yen and Swiss franc.

'Our investigation into the manipulation of Libor continues,' the SFO said Thursday in an e-mailed statement. 'Charges have so far been brought by the SFO against 12 people -- more will follow.'

The London prosecutors have a list of more than 20 people it alleges were part of a conspiracy to rig yen-Libor, eight of whom have been charged already, one person said. The others already accused face prosecution for dollar-Libor rigging.

Hit the link below to access the complete Bloomberg News article:

U.K. Prosecutors Said to Plan New Libor Charges This Year

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