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Three men from Essex and Surrey have been arrested in connection with rigging the interbank lending rate.
The Serious Fraud Office (SFO) says the men - who are 33, 41 and 47-year-old - have been taken to a police station in London following searches at a property in Surrey and two premises in Essex.
The SFO opened its investigation into Libor manipulation in July after Barclays was fined £290 million by US and UK regulators for rigging the key lending rate which affects mortgages and loans.
Other banks are also subject to investigation.