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| Version 1 | Version 2 |
|---|---|
| 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. | The investigation into the alleged fixing of the key benchmark Libor rate was launched in 2012. |
| Barclays was fined £290m ($454m) in 2012 by British and US regulators. | |
| Its previous fine was over the manipulation of Libor and Euribor interbank rates between 2005 and 2009. | |
| Barclays chief executive Bob Diamond and chairman Marcus Agius resigned in 2012 after the scandal. | |
| Global effort | |
| 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. |
| Last month, three former Rabobank traders were charged in the US over allegedly conspiring to manipulate the Yen Libor benchmark interest rate since 2006. | |
| If convicted, the traders could face up to 30 years in prison. | |
| Authorities in the US, Asia and the UK are trying to convict companies and individuals they believe manipulated the key benchmark Libor rate. | |
| British citizen Tom Hayes, a former UBS and Citigroup trader, was charged in June 2013 in connection with the SFO's investigation. | |
| Meanwhile, the Royal Bank of Scotland (RBS) was fined £390m by authorities in the UK and US for its part in the Libor rate-fixing scandal in February 2013. | |
| In August 2012, it was announced that seven other banks, including HSBC, Citigroup, Deutsche Bank, JPMorgan and Swiss bank UBS, would face legal questioning in the US. | |
| UBS was fined a total of $1.5bn by US, UK and Swiss regulators for attempting to manipulate Libor in December 2012. |