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LIBOR manipulation: banker pleads guilty to conspiracy to defraud

7 October, 2014 | News Releases

A senior banker from a leading British bank pleaded guilty at Southwark Crown Court on 3 October 2014 to conspiracy to defraud in connection with manipulating LIBOR. This arises out of the Serious Fraud Office investigations into LIBOR manipulation.

Further details cannot be given at this time for legal reasons.

This is the first criminal conviction arising from the Serious Fraud Office’s LIBOR investigation. 11 other individuals stand charged and await trial.

The investigation into others continues.

Notes for editors:

  1. On 6 July 2012 the Serious Fraud Office announced that it had decided to accept the LIBOR matter for investigation.
  2. The Serious Fraud Office is a government department responsible for investigating and prosecuting serious and complex fraud and corruption. It is headed by the Director, David Green QC, who exercises powers under the superintendence of the Attorney General. These powers are derived from the Criminal Justice Act 1987.
  3. The Serious Fraud Office continues to work with the UK Financial Conduct Authority and the United States Department of Justice in furtherance of its on-going LIBOR investigations.

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