U.S. Builds LIBOR Criminal Case

    10 Jan 2005 --- Gavel at board meeting --- Image by © Bruno Ehrs/Corbis

    Bruno Ehrs / Corbis

    The Department of Justice is building criminal cases against banks and individuals involved in the fixing of international interest rates, according to government officials. A scandal surrounding the London interbank offered rate, or LIBOR, emerged in past weeks as employees of Barclays were accused of manipulating the rate. The bank reached a $450 million settlement with investigators in the U.S. and United Kingdom last month. Authorities close to the latest Justice Department investigation say that at least one bank will have charges filed against it before the close of the year.

    Read it at The New York Times