Fraud / False Accounting

Libor rigging trial: Former Barclays bankers jailed

Four City traders have been ordered to serve jail sentences after being convicted of rigging The Libor rate. Jay Merchant was sentenced to six-and-a-half years, while Peter Johnson, who pleaded guilty, and Jonathan Mathew were each jailed for four years. Alex Pabon received two years and nine months. All four worked for Barclays.

The Libor trial could be a turning point for SFO

The Libor case might be a turning point for the UK's Serious Fraud Office (SFO)

Libor Rate Rigging Case

The Libor is an average interest rate calculated through submissions of interest rates by major banks in London. The case arose when it was discovered that banks were falsely inflating or deflating their rates so as to profit from trades, or to give the impression that they were more creditworthy than they were

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