Four years into the financial crisis, not a single Wall Street bankster outside of Bernie Madoff and Russell Wasendorf have been arrested.
Four weeks into the LIBOR rate-manipulation scandal, that is reportedly about to change.
Reuters has just reported that US prosecutors and European regulators are close to arresting individual traders related to their manipulation of global interest rates.
No mention of any arrests for a single high level executive or Central Bank employee (either the ECB, Bank of England, or the Fed)- merely individual trader scapegoats taking the fall for now.
That may likely change in the coming weeks and months as the scandal intensifies.
U.S. prosecutors and European regulators are close to arresting individual traders and charging them with colluding to manipulate global benchmark interest rates, according to people familiar with a sweeping investigation into the rate-rigging scandal.
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.