Former Barclays traders charged in Libor probe April 28, 2014 THREE more former Barclays traders were yesterday charged by the Serious Fraud Office over their alleged involvement in attempts to manipulate Libor. Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich are accused of conspiracy to defraud and will appear at Westminster Magistrates’ Court in the coming weeks. The staff were all based in the [...]
Barclays settles Libor court case April 7, 2014 BARCLAYS yesterday dodged a potentially embarrassing court case that could have become a landmark in the Libor-fixing scandal, as it settled out of court with a firm that had accused the bank of mis-selling and fraud. In a deal worth around £25m, Barclays has restructured the debts of Guardian Care Homes (GCH), allowing the firm [...]
Former Barclays traders in court on Libor claims February 26, 2014 THREE ex-Barclays traders appeared in court yesterday after the Serious Fraud Office (SFO) charged them with conspiracy to defraud by entering false Libor submissions. Jonathan James Mathew, 31, Peter Charles Johnson, 59, and Stylianos Contogoulas, 42, confirmed their names and addresses to Westminster Magistrates’ Court. The SFO claims that between 1 June 2005 and 31 August 2007 [...]
Former Barclays traders charged in Libor probe February 17, 2014 THREE ex-Barclays traders were charged in relation to the fraud squad’s Libor probe yesterday. The action doubles the number of financiers facing criminal proceedings over the attempts to manipulate the key inter-bank lending rate, after a former UBS banker and two ex-RP Martin brokers were charged last year. It is understood that more ex-bankers and [...]
Libor case sees 3 ex-Barclays employees charged February 17, 2014 The Serious Fraud Office (SFO) has confirmed that three former Barclays employees have been charged in the UK in connection with the manipulation of the London Interbank Offered Rate (Libor). The SFO’s named the individuals as Peter Charles Johnson, Jonathan James Mathew and Stylianos Contogoulas. It’s alleged they conspired to defraud between 1 June 2005 [...]
Libor trio plead not guilty to trying to manipulate the rate December 17, 2013 THE FIRST three men to face trial in connection with a global investigation into Libor-rigging pleaded not guilty at Southwark Crown Court yesterday. Tom Hayes, a former UBS and Citigroup trader, has been charged with eight counts of conspiring with staff from at least 10 major banks and brokerages to manipulate the London Interbank Offered [...]
Broker ICAP’s profits slashed by Libor fine November 13, 2013 PROFITS at ICAP fell by more than 40 per cent in the first half of the year, the broker reported yesterday, thanks to a £54m Libor fine. Pre-tax profit came in at £40m, down from £68m in the same six-month period of last year. But the underlying picture was stronger – operating profits increased six [...]
CNBC Comment: FX market probe raises Libor fears November 11, 2013 YOU DON’T have to read one of John Le Carre’s spy novels to believe his maxim that “bankers will always get away with whatever they can get away with”. The latest scandal afflicting the industry is the fast-moving investigation into the $5.3 trillion (£3.3 trillion) FX market: just three months in, it has embroiled 10 [...]