Additional charges in LIBOR investigation
28 Ebrill, 2014 | Eitemau newyddion
Today the Serious Fraud Office issued criminal proceedings against Jay Vijay Merchant, Alex Julian Pabon and Ryan Michael Reich, all former employees at Barclays Bank Plc., for conspiracy to defraud in connection with its investigation into the manipulation of LIBOR.
- On 6 July 2012 the Serious Fraud Office announced that it had decided to accept the LIBOR matter for investigation.
- 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.
- The first appearance will take place at Westminster Magistrates Court in a few weeks’ time.
- The SFO brought charges regarding LIBOR against Tom Hayes on 18 June 2013; Terry Farr and James Gilmour in July 2013; Peter Johnson, Jonathan Mathew and Stylianos Contogoulas in February 2014; and Danny Wilkinson, Darrell Read and Colin Goodman in April 2014.
- 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.
- The strict liability rule in the Contempt of Court Act 1981 applies.