HJ: The LIBOR Scandal continues to escalate, which takes us one step closer to the rise of the new financial system. I continue to be surprised and impressed by authorities worldwide not dropping the ball on this one. I believe that is a hallmark of true change that is afoot. – Truth
Police take documents from Barclays in Milan, as they investigate possible rate-fixing of the euro version of Libor.
Italian police have taken documents from a Barclays office in Milan as part of a probe into possible Euribor rate manipulation, according to Reuters.
It said the raid occurred as regulators investigated fixing fears of the eurozone equivalent of the scandal-hit, London-based Libor inter-bank lending rate.
The search was ordered by prosecutors in the southern city of Trani, who have opened a criminal probe into the possible manipulation of the Euribor rate.
The move comes after complaints were filed by two consumer groups, Adusbef and Federconsumatori.
Two judicial sources also confirmed the raid occurred last week, according to Reuters.
Documents, computer material and emails were seized, the consumer groups said in a joint statement.
They said the Milan raid occurred “with the aim of looking for evidence that Barclays also manipulated Euribor, as it did with Libor, with a negative impact on mortgage rates paid by Italians”.
Read the rest of the article here: Sky News
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