“Britain on Monday filed its first criminal charges against U.S.-based Libor traders, as the UK arm of a complex global investigation into alleged benchmark interest-rate rigging stretches across the Atlantic.
The Serious Fraud Office (SFO) charged three former traders at British bank Barclays - director of dollar fixed-income swaps Jay Merchant and dollar interest rate derivative traders Alex Pabon and Ryan Reich - with conspiracy to defraud in connection with its Libor inquiry.
A provisional hearing has been scheduled for the three men, who the SFO confirmed were currently in the United States, at Westminster Magistrates Court in London on May 27.’
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