An unnamed senior figure from a UK bank is the first person in Britain to plead guilty over manipulation of the inter-bank rate. A senior banker from a British bank has admitted conspiracy to defraud over the Libor manipulation. The banker is the first person in Britain to plead guilty to the offence. The person cannot be named for legal reasons. The Serious Fraud Office (SFO) said in a statement: "A senior banker from a leading British bank pleaded guilty at Southwark Crown Court on 3 October 2014 to conspiracy to defraud in connection with manipulating Libor. "This arises out of the Serious Fraud Office investigations into Libor manipulation. Further details cannot be given at this time for legal reasons. "This is the first criminal conviction arising from the Serious Fraud Office’s Libor investigation. "Eleven other individuals stand charged and await trial. The investigation into others continues." Two bankers have already admitted guilt in the US to Libor fraud offences.
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