British police have arrested three individuals for their involvement in the recent scandal involving the manipulation of the London Interbank Offered Rate (LIBOR).
CNN reports that these arrests follow an investigation that began in July following the news that Barclays admitted to rigging LIBOR. Other banks – including JP Morgan, UBS, Citigroup and HSBC – were later implicated in the rate rigging scandal.
‘Three men, aged 33, 41 and 47, have been arrested and taken to a London police station for interview in connection with the investigation into the manipulation of LIBOR,’ Britain's Serious Fraud Office said in a statement. The men were not publicly identified.