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Federal prosecutors in Washington, D.C., have recently contacted lawyers representing some of the individuals under suspicion to notify them that criminal charges and arrests could be imminent, said two of those sources who asked not to be identified because the investigation is ongoing.
Defense lawyers, some of whom represent individuals under suspicion, said prosecutors have indicated they plan to begin making arrests and filing criminal charges in the next few weeks. In long-running financial investigations it is not uncommon for prosecutors to contact defense lawyers for individuals bef
Reuters previously reported that more than a dozen current and former employees of several large banks are under investigation, including Barclays Plc, UBS and Citigroup, and have hired defense lawyers over the past year as a federal grand jury in Washington, D.C., continues to gather evidence.
Originally posted by XPLodER
Members have been saying that no arrests will follow the libor criminal rate fixing scandal that has been all over ats for weeks,
well some of the people under investigation have been notified they are under notice of criminal prosecutable actions.
this involves traders for some of the largest banks on earth, and include UK and american banks and traders.
these are actions outside of regulatory enforcement and are CRIMINAL in nature for such things as fraud, rate rigging, and making false financial statements.
is this the start to the end of corruption?
or just the small time traders being thrown under the bus?
Originally posted by XPLodER
reply to post by BoilingFrog
we have seen that the RBS have not wanted to go down alone and have implicated others,
would these traders give up others to save themselves?
if the right pressure was put on those with knowledge what would stop them from spilling the truth to save themselves.
remember cut throat traders are very selfish types.
xploder
"But banks are hoping that at least regulators will see that the scandal was mainly due to individual misbehavior of a gang of traders."
Sun Jul 22, 2012 12:18pm EDT
these are actions outside of regulatory enforcement and are CRIMINAL in nature for such things as fraud, rate rigging, and making false financial statements.
is this the start to the end of corruption?
Section 380(1) of the Criminal Code of Canada provides the general definition for fraud in Canada:
380. (1) Every one who, by deceit, falsehood or other fraudulent means, whether or not it is a false pretence within the meaning of this Act, defrauds the public or any person, whether ascertained or not, of any property, money or valuable security or any service,
Originally posted by XPLodER
reply to post by boncho
so if there were simple info graphics to explain the problem more people would demand jail time for the criminals.
i do happen to understand fractional reserve banking and the role it plays in the destruction of democracy,
so the people are being educated but it takes time to achieve,
and economics is intentionality complicated to stop people from investigating.
i guess it comes down to how simple you can explain a complex issue.
xploder
Federal prosecutors in Washington, D.C., have recently contacted lawyers representing some of the individuals under suspicion to notify them that criminal charges and arrests could be imminent,