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Two ex-brokers charged in SFO Libor investigation

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Two former brokers at wholesale broking firm RP Martin Holdings have been charged with conspiracy to defraud as part of the Serious Fraud Office’s investigation into the manipulation of Libor.

Terry Farr and James Gilmour, both from Essex, were arrested in December 2012 by officers from the SFO and the City of London Police.

They attended Bishopsgate police station this morning and were each charged with counts of conspiracy to defraud, Farr with two counts of the offence and Gilmour with one. Farr and Gilmour will appear before Westminster Magistrates’ Court at a later date.

They were arrested in December alongside former UBS and Citigroup trader Tom Hayes. The SFO announced last month Hayes had been charged with eight counts of fraud.

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Comments

There are 2 comments at the moment, we would love to hear your opinion too.

  1. So that’s a couple of the skivvies charged – what about the managers who should have been monitoring this. I doubt if there are many people who believe that managers were totally out of the loop; and if they were they should be charged with contributory negligence.
    I will believe the investigation is genuine when top managers names appear on the charge sheet.

  2. Never trust an Essex Lad!!

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