Three charged over Libor manipulation allegations

London financial district skyline

Three former employees of the broker Icap have been charged in connection with the alleged manipulation of the London Interbank Offered Rate (Libor).

The Serious Fraud Office (SFO) named them as Colin John Goodman, Darrell Paul Read, and Daniel Martin Wilkinson.

"It is alleged they conspired to defraud between 8 August 2006 and 7 September 2010," the SFO said.

The three will appear at Westminster Magistrates' Court in mid-April, the SFO added.

Libor, the average rate at which banks lend money to one another, is decided daily.

Most of the world's biggest banks contribute estimates to form the Libor.

But there have been allegations that some have looked to profit from it by understating or overstating their submissions.

More on This Story

The BBC is not responsible for the content of external Internet sites

More Business stories

RSS

Features

  • A painting of the White House on fire by Tom FreemanFinders keepers

    The odd objects looted by the British from Washington in 1814


  • Chris and Regina Catrambone with their daughter Maria LuisaSOS

    The millionaires who rescue people at sea


  • Plane7 days quiz

    What unusual offence got a Frenchman thrown off a plane?


  • Children testing a bridge at a model-making summer school in Crawley, West SussexSeeding science Watch

    The retired professor who turned village children into engineers


BBC © 2014 The BBC is not responsible for the content of external sites. Read more.

This page is best viewed in an up-to-date web browser with style sheets (CSS) enabled. While you will be able to view the content of this page in your current browser, you will not be able to get the full visual experience. Please consider upgrading your browser software or enabling style sheets (CSS) if you are able to do so.