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Tullett Prebon Sued by Ex-Employee Said to Be Probed Over Libor

Tullett Prebon Sued by Ex-Employee Said to Be Probed Over Libor

Tullett Prebon Plc (TLPR) was sued by a former employee investigated by U.K. prosecutors as a potential co-conspirator to alleged rigging of the London interbank offered rate.

Noel Cryan filed a lawsuit against the inter-dealer broker on Feb. 20., according to court records in London. The filing didn’t contain any further details about the claim.

Cryan is one of more than 20 people being investigated by the U.K. Serious Fraud Office in connection with yen-Libor rigging, according to a person familiar with the matter who asked not to be named because they weren’t authorized to talk about it.

“We decline to comment because our investigation is ongoing,” said SFO spokeswoman Nilima Fox.

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