8/01/2012

Bankers found to have rigged Libor rate could face jail | The Galactic Free Press

Telegraph.co.uk

By , Banking Correspondent

7:15PM BST 30 Jul 2012
 

Bankers found to have rigged Libor could face jail after the Serious Fraud Office said it will look to bring criminal charges against those who attempted to manipulate Libor, a key global borrowing rate.

Lifers, a Channel 4 documentary, visits convicted killers facing a lifetime behind bars at Gartree Prison in Leicestershire, home to Europe's largest population of life-sentenced prisoners.

Bankers found guilty of Libor rigging could face a prison sentence of up to 10 years Photo: Channel 4

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.

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