21 08, 2012

Increasing Concerns Over Allegation of Improper Libor Manipulation

By |2012-08-16T09:53:47-05:00August 21, 2012|PL Insurance|0 Comments

From the PLUS Journal article “Move Over Subprime? Financial Institutions and Brokers Face Increasing Concerns Over Allegation of Improper Libor Manipulation" (May 2012) by Eric C Scheiner and Jennifer Quinn Broda. THE U.S. CRIMINAL INVESTIGATION The U.S. criminal investigation into the alleged manipulation of these various interbank rates was only recently revealed in the U.S. civil litigation.  Specifically, in a letter dated February 27, 2012 (released March 6, 2012) addressed to Judge Buchwald, lawyers from the U.S. Department of Justice's Fraud Section of the Criminal Division and Antitrust Division publicly acknowledged that they were "conducting a criminal investigation into alleged [...]

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