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LIBOR probe expands to Bank Traders

From the WSJ July 24, 2012

Several groups of traders are under investigation by regulators around the world for allegedly banding together to rig interest rates, people close to the probe said.

The continuing criminal and civil scrutiny includes more than a dozen traders from at least nine banks, often allegedly working together in small groups to target different interest rates on separate continents, the people said.

The emerging details about traders suggest to investigators a widespread conspiracy that continued for several years and cascaded around the world. As a result, the banks where the traders worked are under growing pressure to explain what they knew ...

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