The Global Scam That May Prove Terminal for Barclays, Lloyds and RBS

'Executives and former executives of the Royal Bank of Scotland, Lloyds Banking Group, HSBC and Barclays are at risk of criminal action, including possible extradition to the United States, in the wake of evidence of their concerted attempts to rig global interest rates, according to senior legal experts.

RBS, Lloyds and HSBC are also facing even larger fines than Barclays’ £290 million fine because of their involvement in the alleged international cartel.

William K Black, an associate professor of economics and law at the University of Missouri-Kansas City, told the Sunday Herald that anyone who is found to have manipulated Libor or condoned such practices at a senior level in a bank should face criminal prosecution. He suggested UK based directors and staff, such as the former RBS chief executive Fred Goodwin, could be liable for extradition to the US.'

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