The UK’s Serious Fraud Office (SFO) has charged Terry Farr and James Gilmour, former brokers at RP Martin Holdings, with offences of conspiracy to defraud in connection with the investigation by the SFO into the manipulation of Libor.
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Farr and Gilmour were arrested on 11 December 2012 (along with Tom Hayes) by officers from the SFO and City of London Police. They attended Bishopsgate police station, where they were each charged by City of London Police, Gilmour with one count of conspiracy to defraud, and two counts of the same offence for Farr. They will appear before Westminster Magistrates Court at a later date.
The SFO’s investigation into rigging Libor interest rates was sparked by the £290 million fine paid by Barclays to the US and the UK regulators last year. The inquiry is continuing while the UK regulators are investigating four more financial firms, having followed up the Barclays fine with penalties for Royal Bank of Scotland, which paid £390 million in the US and the UK, and UBS, which paid $1.5 billion in the UK, the US and Switzerland.
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By GlobalData
