SFO agrees to probe Libor affair
A sign is displayed in an unmarked Serious Fraud Office vehicle parked outside a building, in Mayfair, central London March 9, 2011.
Credit: Reuters/Andrew Winning
LONDON |
LONDON (Reuters) - Britain's fraud-busting agency on Friday said it had agreed to investigate the Libor interest rate-rigging scandal, which on Tuesday led to the departure of Barclays chief executive Bob Diamond.
"The SFO Director David Green QC has today decided formally to accept the Libor matter for investigation," the Serious Fraud Office said in a brief statement.
The SFO said Monday it would decide within a month whether to press criminal charges over the Libor affair, amid concerns banks understated their borrowing costs to make it appear they were in better financial health than they were.
(Reporting by Myles Neligan; editing by Steve Slater)
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Yes is the answer, why, not a single banker has been jailed since the 2007 collapse, PPI and now Libor, so why will it be any different now.
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