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SFO kicks off legal battle against Barclays trio over Libor

by Michelle Abrego on Feb 17, 2014 at 12:15

SFO kicks off legal battle against Barclays trio over Libor

The Serious Fraud Office (SFO) has begun legal proceedings against three former Barclays Bank employees over the manipulation of Libor.

The SFO said Peter Charles Johnson, Jonathan James Mathew and Stylianos Contogoulas conspired to defraud between June 2005 and August 2007.

In July 2012, Barclays was fined £290 million by the Financial Services Authority’s (FSA) and US regulators over its role in the Libor manipulation scandal.

The SFO previoulsy brought Libor related charges against Tom Hayes in June 2013 and against Terry Farr and James Gilmour in July 2013, following their arrest in December 2012. 

The SFO announced it was preparing to bring a new wave of charges in connection with Libor back in July last year.

According to reports last week, the SFO was due to charge another six people in connection with Libor rigging.

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