Libor Manipulation Scandal: Britain's Serious Fraud Office Arrests 3 In Interest Rate Probe

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LONDON, Dec 11 (Reuters) - Britain's Serious Fraud Office (SFO) and London police have made the first arrests as part of a global investigation into the manipulation of interbank lending rates, a scandal that has rocked the banking industry.

The SFO said on Tuesday three British men, aged 33, 41 and 47, were taken to a London police station for interviews in the early morning after three properties were searched.

An SFO spokesman said the interviews were continuing.

"The men are all British nationals currently living in the United Kingdom," the SFO said in a brief statement.

Prosecutors and regulators across Europe, the United States, Canada and Japan have been investigating how traders attempted to rig key benchmark lending rates such as Libor...

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The pace of the courts may be slow, but at least i... by Mari Eliza on Tuesday, Dec 11, 2012 at 11:55:18 AM