UK prosecutor says has “vast amounts” of documents in Libor case

All of those short term ARM rates in the united States are LIBOR. Just when do you think U.S. foreclosure defense attorneys are going to grow the testicular fortitude to add LIBOR fraud to their defenses?

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UK prosecutor says has “vast amounts” of documents in Libor case

(Reuters) – British fraud prosecutors have sifted through “vast amounts” of documents in their case against three former Barclays traders alleged to have rigged crucial Libor benchmark interest rates over a two year period, a London court heard on Tuesday.

James Hines, a senior lawyer for Britain’s Serious Fraud Office (SFO), told a short hearing at Southwark Crown Court that much of the evidence against Peter Johnson, 59, Jonathan Mathew, 33, and Stylianos Contogoulas, 42, was in email form.

The three men, who are next expected to appear in court towards the end of July, bring to 13 the number facing criminal charges in Britain and the U.S. over allegations that they attempted to manipulate the London Interbank Offered Rate (Libor), a central cog in global financial markets against which about $450 trillion of financial products are pegged, from…

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