3 arrested in U.K. interest rate case


Published Dec 12, 2012 at 04:00AM / Updated Nov 19, 2013 at 12:31AM

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