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Fraud office launches Libor criminal action against Barclays trio

Fraud office launches Libor criminal action against Barclays trio

The Serious Fraud Office has launched criminal proceedings against three ex-Barclays employees in connection with the alleged manipulation of the London Inter-bank offered rate (Libor).

The SFO named the three Barclays Bank employees as Peter Charles Johnson, Jonathan James Mathew and Stylianos Contogoulas. It is alleged they conspired to defraud between 1 June 2005 and 31 August 2007.

The SFO said the Libor investigation is ongoing, having accepted the case for investigation in July 2012. It is working collaboratively with the Financial Conduct Authority and the United States Department of Justice.

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