By Toby Harnden PUBLISHED: 18:35 EST, 1 July 2012 | UPDATED: 04:41 EST, 2 July 2012 The FBI is investigating 14 Barclays traders at the heart of the Libor-fixing scandal, it emerged yesterday. Although much of the immediate political fallout over Barclays has occurred in the UK, the US could become the main legal arena for the scandal, with financial and custodial punishments dwarfing those imposed elsewhere. The City of Baltimore has already launched a class action suit and the brokerage firm Charles Schwab has brought a lawsuit in California. Probe: Fourteen Barclays traders at the heart of the Libor-fixing scandal are being investigated by the FBI (File photograph)
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Traders under scrutiny are based mainly in London and New York
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It follows the £290m fine given to Barclays for fixing Libor lending rate
Manipulating @placeholder would have had a significant effect on pension and investment funds that buy complex financial products, known as derivatives, linked to interest rates.