Bankers Found to Have Rigged Libor Rate Could Face Jail
Tuesday, 31 July 2012 08:01
Posted by David Icke
'David Green QC, director of the SFO, said existing legislation could be used to bring criminal actions against banks implicated in the Libor rigging scandal.
Mr Green did not specify the precise charges that could be brought but it is possible bankers found guilty of manipulation could receive prison sentences of up to 10 years.
The decision to pursue prosecutions comes just over three weeks after the SFO formally announced an investigation into Libor and in particular whether it was possible to launch criminal proceedings against individual banks and bankers found to have rigged borrowing rates.'
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