British police arrested three people Tuesday as part of their investigation into the manipulation of a key benchmark interest rate — the first British arrests in a scandal that’s had global ramifications. The three men were not named by officials.
The arrests follow an investigation opened in July by Britain’s Serious Fraud Office after Barclays was fined $435 million by U.S. and British agencies for creating false reports on its borrowing costs between 2005 and 2009, specifically related to the London interbank offered rate.
— From wire reports
