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The Serious Fraud Office has closed its two-year investigation into allegations of fraudulent conduct in the foreign exchange market. It said there were reasonable grounds to suspect the commission of offences, but insufficient evidence for a realistic prosecution. Meanwhile, the third LIBOR trial has kicked off at Southwark Crown Court. Five former traders from Barclays are accused of conspiring to manipulate the London interbank rate.
The Serious Fraud Office has closed its two-year investigation into allegations of fraudulent conduct in the foreign exchange market. It said there were reasonable grounds to suspect the commission of offences, but insufficient evidence for a realistic prosecution. Meanwhile, the third LIBOR trial has kicked off at Southwark Crown Court. Five former traders from Barclays are accused of conspiring to manipulate the London interbank rate.
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