Serious Fraud Office arrests three in LIBOR raid

Three men have been arrested in connection with an ongoing investigation into the manipulation of the LIBOR inter-bank lending rate.

The trio - aged 33, 41 and 47 - have been taken to a London police station for interview. The Serious Fraud Office (SFO) has issued search warrants for three properties in the South East England - one in Surrey and two in Essex. All three men are British nationals living in the UK, it said in a statement. The LIBOR rate-rigging scandal claimed several high profile scalps at Barclays, and resulted in the bank being fined £290m for its role in manipulating the rate at which banks lend to each other.  The probe is expected to see several other major UK and European banks fined for ...