Three ICAP Brokers Charged By UK Fraud Prosecutors

Three former brokers ICAP brokers are being charged by UK prosecutors with manipulating European interest rate markets, according to a report.

UK’s Serious Fraud Office (SFO) announced that it was charging the three brokers – Daniel Wilkinson, 47 years old, Darrell Read, 49, and Colin Goodman, 52 – along with ten other traders.  The brokers are charged with manipulating the LIBOR interest rate market to improve their trading profits.  LIBOR is used by many banks to set interest rates used in home mortgages. The trio has also been charged by the US Justice Department with similar fraud related...