Three former Barclays bankers charged over Libor manipulation

They are accused of "conspiring to defraud" between 2005 and 2007

(AFP)

Three former Barclays employees have been charged in connection with alleged Libor manipulation as part of a Serious Fraud Office investigation.

Peter Charles Johnson, Jonathan James Mathew and Stylianos Contouglas are accused of conspiracy to defraud between 1 June 2005 and 31 August 2007, the SFO said.

They are due to appear at Westminster Magistrates' Court at a date to be decided.

Barclays paid a $450m (£270m) fine in July 2012 to settle allegations from US and UK regulators that, along with other banks also fined, it had manipulated the inter-bank lending rate set in London.

The scandal prompted the resignation of chief executive Bob Diamond, chairman Marcus Agius and chief operating officer Jerry Del Missier.

The Libor investigation was launched in conjunction with the Financial Conduct Authority and the US Department of Justice in 2012.

The Libor rate underpins trillions of pounds of mortgages, credit cards, small business loans and financial derivatives.

Barclays declined to comment.