London banker pleads guilty to fixing Libor, faces up to 10 years in jail

A senior London banker has become the first person to be prosecuted for fixing the London interbank offered rate (Libor), a scandal that resulted in billions worth of losses for savers as banks fraudulently boosted their profits.
The banker, who has not been named for legal reasons, faces up to 10 years in jail after being charged with fixing the inter-lending rate by the Serious Fraud Office (SFO).
The post London banker pleads guilty to fixing Libor, faces up to 10 years in jail appeared first on BSNEWS.

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