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Liborgate: towards impending arrests of traders

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Liborgate: towards impending arrests of traders



According to sources cited by Reuters, the Washington federal prosecutors recently contacted lawyers for some suspects to inform them of the possibility of criminal prosecutions and arrests imminent.

REUTERS / Remote / Pawel Kopczynski



The arrest of traders suspected of being wet in the Libor scandal should delay ... According to sources cited by Reuters, the Washington federal prosecutors recently contacted lawyers for some suspects to inform them of the possibility of prosecution criminal and impending arrests.

>>> Why Liborgate's a bomb in the banking sector

"More than a handful of traders are concerned," a source told Reuters. The latter, which belong to the largest financial institutions in the world, are suspected of having manipulated the Libor and Euribor, the two reference interbank rates. They could fall under criminal prosecution.

In this kind of investigation into alleged financial misdeeds, it is not uncommon that the prosecution contacted the defense to give suspects an opportunity to collaborate with the authorities.

At the same time, regulators are trying to shed light on the potential liability of banks in the scandal.

For now, only the Barclays entered into a settlement agreement with the US and UK regulators, released June 27 The bank agreed to pay a fine of $ 453 million and recognized its role in the manipulation of Libor. Since then, the Libor scandal does not stop to reveal its secrets.

A group of banks involved in the scandal now consider concluding a collective mutual agreement with the regulatory authorities for not as Barclays, to face the situation alone.

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