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SFO to charge three ex-Icap brokers over Libor rigging

The Serious Fraud Office is to charge three former Icap brokers with fraud over allegations of Libor rigging.

Danny Wilkinson, Darrell Read and Colin Goodman are facing allegations of conspiracy to defraud between August 2006 and September 2010.

Criminal proceedings against the men were started on 28 March, with the first appearance and charges expected to be read out at Westminster Magistrates’ Court on 15 April.

Nine individuals are now facing fraud charges relating to Libor rigging as the investigation continues.

Last October, Icap Europe was fined £54.5m by the FCA for manipulating Libor. One broker referred to himself as “Lord Libor” or “Mr Libor”, while in other cases champagne and dinners out were used to lure brokers into rigging.

Icap Europe chief executive Michael Spencer is a major donor to the Conservatives, giving £4.3m to the party since 2006.

The SFO decided to accept the Libor case for investigation in July 2012.

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