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U.S. Authorities Subpoena Seven Banks In LIBOR Probe
August 17, 2012
U.S. authorities are investigating the involvement of seven large banks in the alleged manipulation of the London inter-bank offer rate (LIBOR).
Subpoenas were issued to Barclays PLC, Citigroup Inc., Deutsche Bank AG, JPMorgan Chase & Co., HSBC Holdings plc, Royal Bank of Scotland Group plc, and UBS AG by the office of New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen, who are leading the investigation.
The United States government is conducting a criminal investigation regarding the possible involvement of other banks in the LIBOR scandal. Investigators want to find out if there is a conspiracy between Barclays other banks in manipulating the LIBOR rates, and if there’s enough evidences and testimonies to file criminal charges.
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