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Two brokers charged with manipulating LIBOR

  • 15/07/2013
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Two brokers charged with manipulating LIBOR
Two former brokers at RP Martin Holdings, have today been charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office (SFO) into the manipulation of LIBOR.

The brokers, Terry Farr and James Gilmour, were arrested on 11 December 2012 – alongside former UBS and Citigroup trader Tom Hayes – by officers from the SFO and City of London Police. Both are from Essex.

They attended Bishopsgate police station this morning where they were each charged by City of London Police.

Gilmour was charged with one count of conspiracy to defraud, while Terry Farr was charged with two counts of the same offence. They will appear before Westminster Magistrates Court at a later date.

The SFO’s investigation into the manipulation of LIBOR continues.

On 6 July 2012 the SFO announced that it had decided to accept the LIBOR matter for investigation. On 11 December 2012 three residential premises were searched and the three men were arrested, interviewed and released on police bail.

On 18 June 2013, Hayes was charged by the SFO with offences of conspiracy to defraud.

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