Furious shareholders in Barclays are demanding the bank strips disgraced ex-boss Bob Diamond of his entitlement to an £18million bonus. The row emerged as the Serious Fraud Office confirmed it is pursuing criminal investigations against bankers involved in an industry-wide conspiracy to rig crucial interest rates.The SFO failed to conduct an inquiry last year because of lack of funding; its budget has been cut by 38 per cent over five years.
And in the meantime, not a peep about any bank in the US, which is ironic considering JPM, Citi and BofA are BBA member banks, and had among the lowest fixing rates during the period in question, and as Bob Diamond himself said, "ev... Read Post
(LONDON) — Britain’s Serious Fraud Office says it has formally opened a criminal investigation of Barclays’ manipulation of a key market interest rate. The agency said Friday that it was uncertain whether the investigation would res... Read Post