Canadian LIBOR Securities Fraud Investigation
Barclays, UBS and HSBC fined or investigated for manipulating LIBOR
On June 26, 2012, Barclays plc paid $450 million to resolve regulator investigations of its role in manipulating certain interest-rates, such as LIBOR (London Interbank Offered Rate). On December 19, 2012, UBS announced that it paid over $1.5 billion in fines to regulators for manipulating global interest-rates. HSBC is still under investigation by Canadian, United Kingdom, and United States regulators.
Barclays, UBS and HSBC may have underpaid there own bond holders
Barclays, UBS and HSBC have tied interest payments on many of their own corporate bonds to the very LIBOR that the banks have been accused of manipulating. These three banks then may have manipulated lower the interest rate each had to pay bondholders.
Barclays, UBS and HSBC may have underpaid money market depositors
Barclays, UBS and HSBC have in the past tied interest payments due money market account deposits in each of the banks to LIBOR. These three banks then may have manipulated lower the interest payments made to money market depositors.
LIBOR rate manipulation investigation: Help us help you.
If you are a Canadian resident and a bondholder of Barclays, UBS or HSBC ,or if you have earned interest as a depositor in Barclays, UBS and HSBC, please fill out the contact form on this web page or call Attorney George Pressly at Morgan & Morgan toll free at 1 (800) 631-6234.