The British Are Coming: The Redcoats Get Serious About Prosecuting International White-Collar Crime

May 7, 2014  |  The Insider: White Collar Defense and Securities Enforcement

United States financial entities and their individual employees should be aware that a new sheriff is in town.  Last week, the United Kingdom’s Serious Fraud Office (SFO) brought criminal charges against three American bankers in connection with its ongoing investigation into the rigging of the interest rate benchmark known as LIBOR.  The SFO’s press release was two sentences in length: “Criminal proceedings by the Serious Fraud Office have commenced today against three former employees at Barclays Bank Plc . . . in connection with the manipulation of LIBOR.  It is alleged they conspired to defraud between 1 June 2005 and 31 August 2007.”  [...]

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