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Barclays staff linked to Libor-rigging to be named

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A group of more than 100 Barclays staff named in documents linked to the Libor-rigging scandal face being publicly identified after a judge rejected their plea for anonymity. The Barclays workers asked for their names to be subject to reporting restrictions ahead of the UK’s first trial related to the manipulation of the benchmark interest rate. Lawyers representing the bank workers argued that naming them could prejudice any future criminal trial over the scandal.

 

But, dismissing their plea as a “red herring”, Judge Julian Flaux said: “I simply do not see that there is any sufficient case of prejudice.” He added that the “cat is already out of the bag” in relation to ongoing investigations into interest rate rigging by banks. Of the 106 current and former Barclays workers who sought the reporting restrictions, 24 were understood to be directly linked to manipulation of Libor.

 

Link: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/9816766/Barclays-staff-linked-to-Libor-rigging-to-be-named.html


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