SFO launches criminal investigation into LIBOR scandal

According to a statement, director David Green QC has formally accepted the LIBOR matter for investigation. The development follows reports last week that a lack of resources in the UK's lead anti-fraud agency would prevent an investigation from being carried out. However, the SFO has now confirmed a criminal investigation will go ahead. Shares in Barclays collapsed last week after the bank was issued a fine of £290m for manipulating LIBOR rates by UK and US regulatory agencies, leading to chief executive officer Bob Diamond's (pictured) eventual resignation. Although the Financial...