U.S. Authorities Subpoena Seven Banks In LIBOR Probe
U.S. authorities are investigating the involvement of seven large banks in the alleged manipulation of the London inter-bank offer rate (LIBOR).
Subpoenas were issued to Barclays PLC (LON:BARC) (NYSE:BCS), Citigroup Inc. (NYSE:C), Deutsche Bank AG (ETR:DBK) (FRA:DBK) (NYSE:DB), JPMorgan Chase & Co. (NYSE:JPM), HSBC Holdings plc (LON:HSBA) (NYSE:HBC), Royal Bank of Scotland Group plc (NYSE:RBS), and UBS AG (NYSE:UBS) by the office of New York Attorney General Eric Schneiderman and Connecticut Attorney General George Jepsen, who are leading the investigation.
The United States government is conducting a criminal investigation regarding the possible involvement of other banks in the LIBOR scandal. Investigators want to find out if there is a conspiracy between Barclays other banks in manipulating the LIBOR rates, and if there’s enough evidences and testimonies to file criminal charges.