U.K. Government Issues Charges Related To LIBOR

The Serious Fraud Office of the government of the United Kingdom issued criminal proceedings against Noel Cryan, a former employee at Tullett Prebon Group Ltd., for manipulation of the London Interbank Offered Rate. The charges were in connection with the manipulation of LIBOR, and said he conspired to commit fraud from February 2009 to December 2009. Cryan is the thirteenth person to face fraud charges in regard to LIBOR, with the first criminal conviction happening earlier this year.