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U.K.: First LIBOR scandal arrests made

 |  December 11, 2012

The Serious Fraud Office of Britain has announced it has made the first arrests in the worldwide investigation into the LIBOR scandal. All three of the men arrested are British citizens, one of whom was a former trader at Citigroup and UBS, according to a source. Early arrests in investigations such as these are not uncommon. They are the first in a global scandal of major banks allegedly rigging interest rates; more than a dozen companies are currently under investigation.

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