Senior British Banker Admits To Defrauding Libor: Reports

A senior British banker has pleaded guilty to manipulating the Libor interest-rate benchmark, marking the first U.K. person to admit to rigging the lending rate, according to media reports on Tuesday. The court didn't allow publication of the identity of the banker, but said on Oct. 3 he admitted to charges of conspiracy to defraud filed by the U.K.'s Serious Fraud Office in its two-year investigation into alleged Libor rigging. Two men in the U.S. have already pleaded guilty to the offence.