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Britain's Serious Fraud Office charges 10 individuals over Euribor

[LONDON] Britain's Serious Fraud Office said on Friday it has charged 10 Barclays and Deutsche Bank employees in the first criminal proceedings for alleged manipulation of the Euribor interest rate benchmark.

"Criminal proceedings will be issued against other individuals in due course," it said in a statement.

The SFO said it was charging Barclays employees Colin Bermingham, Carlo Palombo, Philippe Moryoussef and Sisse Bohart and Deutsche Bank employees Christian Bittar, Achim Kraemer, Andreas Hauschild, Joerg Vogt, Ardalan Gharagozlou and Kai-Uwe Kappauf with conspiracy to defaud in connection with an investigation into the manipulation of Euribor.

The defendants will appear at Westminster magistrates' court on Jan 11, 2016 and the SFO said the investigation continues.