Britain’s Serious Fraud Office (SFO) has made the first arrests as part of a global investigation into the manipulation of interbank lending rates.
The SFO said on Tuesday three British men, aged 33, 41 and 47, had been taken to a London police station for interviews. They had all been living in Britain.
Sources had said that regulators and prosecutors in the U.S. and Europe were closing in on individual traders they suspected of colluding to rig key benchmark lending rates such as Libor (London interbank offered rate) and its euro cousin Euribor.
via UK anti-fraud agency arrests three in Libor probe — Reuters