{"id":2609,"date":"2016-03-10T00:00:00","date_gmt":"2016-03-10T00:00:00","guid":{"rendered":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/"},"modified":"2018-06-25T13:24:02","modified_gmt":"2018-06-25T13:24:02","slug":"fcpa-blog-article","status":"publish","type":"post","link":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/","title":{"rendered":"FCPA Blog – Martin Kenney on the Libor Scandal"},"content":{"rendered":"

 <\/p>\n

MARTIN KENNEY ON THE LIBOR SCANDAL: WORKING FOR THE SFO CAN'T BE EASY<\/a><\/h2>\n
\n

\"\"<\/span><\/p>\n

 <\/p>\n

After a London jury acquitted six defendants<\/a><\/strong> in late January, I hope the Serious Fraud Office’s decision to prosecute individuals for their alleged part in the LIBOR rate fixing scandal doesn't blow up in its face.<\/p>\n

At the trial, the SFO alleged the six men had conspired with Tom Hayes to manipulate LIBOR. Hayes, a former UBS and Citigroup trader, was convicted by a jury in London last August.<\/p>\n

After the acquittals, defendant Colin Goodman's solicitor said<\/a><\/strong>: “We can only reiterate what his counsel told the jury, that the SFO case was a complete shambles and should never have been brought.”<\/p>\n

The LIBOR scandal required investigation. The flak from the United States and its Justice Department was a a significant driving force behind the UK's parallel investigation.<\/p>\n

The SFO enjoys a mixed reputation among UK law enforcement agencies. Criticism of the agency is debatable; their investigations almost always come soaked in political intrigue.<\/p>\n

Police fraud squads in particular, sometimes with tongue-in-cheek, suggest that the SFO will only accept a case referral if there is more than a hint of politics to it — as a means of securing the limelight and publicity.<\/p>\n

The LIBOR rate fixing case illustrates this. The SFO secured the conviction of Tom Hayes after a jury trial and his incredibly heavy sentence of 14 years, reduced to nine on appeal. The outcome was reported by every newspaper and news channel.<\/p>\n

But when things go wrong — such as the six LIBOR acquittals — the SFO suffers the criticisms.<\/p>\n

Working for the SFO can't be easy when your fraud investigations are mixed with a hint of political scandal.<\/p>\n

We haven’t heard the last of the LIBOR scandal. The Americans are determined to make their own political point that nobody messes with their financial system, especially Brit fraudsters hell-bent on making a few extra bob.<\/p>\n

Once the dust settles and justice runs its course, we can be sure political fallout will follow.<\/p>\n

From London, the SFO will be at the hub of this debate. And its reputation will continue to receive a mixed perception among law enforcement peers, regardless of the ultimate conclusion.<\/p>\n

 <\/p>\n<\/div>\n

– See more at: http:\/\/www.fcpablog.com\/blog\/2016\/3\/10\/martin-kenney-on-the-libor-scandal-working-for-the-sfo-cant.html#sthash.SQwHxez7.dpuf<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Martin Kenney on the Libor Scandal Working for the SFO cant be easy <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2609","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nFCPA Blog - Martin Kenney on the Libor Scandal - MKS<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FCPA Blog - Martin Kenney on the Libor Scandal - MKS\" \/>\n<meta property=\"og:description\" content=\"Martin Kenney on the Libor Scandal Working for the SFO cant be easy\" \/>\n<meta property=\"og:url\" content=\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/\" \/>\n<meta property=\"og:site_name\" content=\"MKS\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/MartinKenneySolicitors\" \/>\n<meta property=\"article:published_time\" content=\"2016-03-10T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2018-06-25T13:24:02+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225\" \/>\n<meta name=\"author\" content=\"Nick Ryan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@mksolicitors\" \/>\n<meta name=\"twitter:site\" content=\"@mksolicitors\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nick Ryan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/\"},\"author\":{\"name\":\"Nick Ryan\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/#\/schema\/person\/8877ccebf0e078d75b8c4a820af7eff2\"},\"headline\":\"FCPA Blog – Martin Kenney on the Libor Scandal\",\"datePublished\":\"2016-03-10T00:00:00+00:00\",\"dateModified\":\"2018-06-25T13:24:02+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/\"},\"wordCount\":408,\"publisher\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/#organization\"},\"image\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225\",\"articleSection\":[\"Uncategorized\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/\",\"url\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/\",\"name\":\"FCPA Blog - Martin Kenney on the Libor Scandal - MKS\",\"isPartOf\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#primaryimage\"},\"thumbnailUrl\":\"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225\",\"datePublished\":\"2016-03-10T00:00:00+00:00\",\"dateModified\":\"2018-06-25T13:24:02+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#primaryimage\",\"url\":\"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225\",\"contentUrl\":\"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/diskdrive33.com\/mks\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"FCPA Blog – Martin Kenney on the Libor Scandal\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/#website\",\"url\":\"https:\/\/diskdrive33.com\/mks\/\",\"name\":\"Martin Kenney & Co (MKS)\",\"description\":\"BVI Lawyers \u2013\u00a0Global Asset Recovery\",\"publisher\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/diskdrive33.com\/mks\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/#organization\",\"name\":\"Martin Kenney & Co (MKS)\",\"url\":\"https:\/\/diskdrive33.com\/mks\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/diskdrive33.com\/mks\/wp-content\/uploads\/2023\/07\/MKS-logo-630-\u00d7-180px.png\",\"contentUrl\":\"https:\/\/diskdrive33.com\/mks\/wp-content\/uploads\/2023\/07\/MKS-logo-630-\u00d7-180px.png\",\"width\":630,\"height\":180,\"caption\":\"Martin Kenney & Co (MKS)\"},\"image\":{\"@id\":\"https:\/\/diskdrive33.com\/mks\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/MartinKenneySolicitors\",\"https:\/\/x.com\/mksolicitors\",\"https:\/\/www.linkedin.com\/company\/martinkenneysolicitors\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/diskdrive33.com\/mks\/#\/schema\/person\/8877ccebf0e078d75b8c4a820af7eff2\",\"name\":\"Nick Ryan\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FCPA Blog - Martin Kenney on the Libor Scandal - MKS","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_GB","og_type":"article","og_title":"FCPA Blog - Martin Kenney on the Libor Scandal - MKS","og_description":"Martin Kenney on the Libor Scandal Working for the SFO cant be easy","og_url":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/","og_site_name":"MKS","article_publisher":"https:\/\/www.facebook.com\/MartinKenneySolicitors","article_published_time":"2016-03-10T00:00:00+00:00","article_modified_time":"2018-06-25T13:24:02+00:00","og_image":[{"url":"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225","type":"","width":"","height":""}],"author":"Nick Ryan","twitter_card":"summary_large_image","twitter_creator":"@mksolicitors","twitter_site":"@mksolicitors","twitter_misc":{"Written by":"Nick Ryan","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#article","isPartOf":{"@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/"},"author":{"name":"Nick Ryan","@id":"https:\/\/diskdrive33.com\/mks\/#\/schema\/person\/8877ccebf0e078d75b8c4a820af7eff2"},"headline":"FCPA Blog – Martin Kenney on the Libor Scandal","datePublished":"2016-03-10T00:00:00+00:00","dateModified":"2018-06-25T13:24:02+00:00","mainEntityOfPage":{"@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/"},"wordCount":408,"publisher":{"@id":"https:\/\/diskdrive33.com\/mks\/#organization"},"image":{"@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#primaryimage"},"thumbnailUrl":"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225","articleSection":["Uncategorized"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/","url":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/","name":"FCPA Blog - Martin Kenney on the Libor Scandal - MKS","isPartOf":{"@id":"https:\/\/diskdrive33.com\/mks\/#website"},"primaryImageOfPage":{"@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#primaryimage"},"image":{"@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#primaryimage"},"thumbnailUrl":"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225","datePublished":"2016-03-10T00:00:00+00:00","dateModified":"2018-06-25T13:24:02+00:00","breadcrumb":{"@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#primaryimage","url":"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225","contentUrl":"http:\/\/www.fcpablog.com\/storage\/Screen%20Shot%202016-03-10%20at%208.57.29%20AM.png?__SQUARESPACE_CACHEVERSION=1457619897225"},{"@type":"BreadcrumbList","@id":"https:\/\/diskdrive33.com\/mks\/2016\/03\/10\/fcpa-blog-article\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/diskdrive33.com\/mks\/"},{"@type":"ListItem","position":2,"name":"FCPA Blog – Martin Kenney on the Libor Scandal"}]},{"@type":"WebSite","@id":"https:\/\/diskdrive33.com\/mks\/#website","url":"https:\/\/diskdrive33.com\/mks\/","name":"Martin Kenney & Co (MKS)","description":"BVI Lawyers \u2013\u00a0Global Asset Recovery","publisher":{"@id":"https:\/\/diskdrive33.com\/mks\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/diskdrive33.com\/mks\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/diskdrive33.com\/mks\/#organization","name":"Martin Kenney & Co (MKS)","url":"https:\/\/diskdrive33.com\/mks\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/diskdrive33.com\/mks\/#\/schema\/logo\/image\/","url":"https:\/\/diskdrive33.com\/mks\/wp-content\/uploads\/2023\/07\/MKS-logo-630-\u00d7-180px.png","contentUrl":"https:\/\/diskdrive33.com\/mks\/wp-content\/uploads\/2023\/07\/MKS-logo-630-\u00d7-180px.png","width":630,"height":180,"caption":"Martin Kenney & Co (MKS)"},"image":{"@id":"https:\/\/diskdrive33.com\/mks\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/MartinKenneySolicitors","https:\/\/x.com\/mksolicitors","https:\/\/www.linkedin.com\/company\/martinkenneysolicitors"]},{"@type":"Person","@id":"https:\/\/diskdrive33.com\/mks\/#\/schema\/person\/8877ccebf0e078d75b8c4a820af7eff2","name":"Nick Ryan"}]}},"_links":{"self":[{"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/posts\/2609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/comments?post=2609"}],"version-history":[{"count":1,"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/posts\/2609\/revisions"}],"predecessor-version":[{"id":2692,"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/posts\/2609\/revisions\/2692"}],"wp:attachment":[{"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/media?parent=2609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/categories?post=2609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/diskdrive33.com\/mks\/wp-json\/wp\/v2\/tags?post=2609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}