News Column

Bankers face fraud charges

April 29, 2014

Britain's Serious Fraud Office (SFO) said yesterday it had started criminal proceedings against three former Barclays Plc employees as part of its ongoing investigation into the manipulation of Libor benchmark interest rates.

The SFO said proceedings had been initiated against Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich for conspiracy to defraud. The agency said the first court appearance would take place at Westminster Magistrate's Court in a few weeks.

Cape Argus

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Source: Cape Argus (South Africa)