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Former Barclays employees named in Libor criminal case | Former Barclays employees named in Libor criminal case |
(35 minutes later) | |
The Serious Fraud Office (SFO) has charged three former Barclays employees in connection with its investigation into the manipulation of Libor. | The Serious Fraud Office (SFO) has charged three former Barclays employees in connection with its investigation into the manipulation of Libor. |
Peter Johnson, Jonathan Mathew and Stylianos Contogoulas allegedly conspired to defraud between 1 June 2005 and 31 August 2007, said the SFO. | Peter Johnson, Jonathan Mathew and Stylianos Contogoulas allegedly conspired to defraud between 1 June 2005 and 31 August 2007, said the SFO. |
The investigation into the alleged fixing of the key benchmark Libor rate was launched in 2012. | |
Barclays was fined £290m in 2012 over the manipulation of interbank rates. | |
The Libor rate is used to set trillions of dollars of financial contracts, including many car loans and mortgages, as well as complex financial transactions around the world. | The Libor rate is used to set trillions of dollars of financial contracts, including many car loans and mortgages, as well as complex financial transactions around the world. |