Three arrests made in wake of Libor rate rigging scandal

• Serious Fraud Office has revealed that three men have been arrested in connection with Libor rate rigging

• The three men, aged 33, 41 and 47, were arrested in their homes in Surrey and Essex

The men, who are all British and aged 33, 41 and 47, were arrested at their homes in Surrey and Essex this morning.

Earlier this year bankers were accused of manipulating the Libor , which is used to set the interest rate on trillions of pounds worth of contracts around the world, including credit cards and mortgages.

“Today the Serious Fraud Office, with the assistance of the City of London Police, executed search warrants at three residential premises in Surrey and Essex,” it said in a statement.

“Three men, aged 33, 41 and 47, have been arrested and taken to a London police station for interview in connection with the investigation into the manipulation of Libor.

“The men are all British nationals currently living in the United Kingdom.”