Barclay’s CEO apologizes for LIBOR Fraud

Banking giant Barclays is to pay penalties of £290 million to settle claims that it manipulated the interbank lending rate.

The bank was fined £59.5 million – the largest imposed by City watchdog the FSA – and also agreed payments to authorities in the US.

Chief executive Bob Diamond apologised for the incident and said that he and fellow executives Chris Lucas, Jerry del Missier and Rich Ricci have agreed not to take a bonus this year.


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