Private prosecutions for Fraud.

[johnfm]

If the actions of bankers, traders, pension fund managers etc is so clearly fraudulent to some, why hasn't there been any private prosecutions for fraud?

[johnfm]

munky said:

johnfm said:

If the actions of bankers, traders, pension fund managers etc is so clearly fraudulent to some, why hasn't there been any private prosecutions for fraud?

Why bother?

You don't need to prove fraud to bring a case for damages. I think. Not being a lawyer.

There are several civil suits in the early stages over LIBOR, but these can take years to play out. It will be fascinating to see how they do play out, given that LIBOR is just a guess.

Which pension fund managers have been accused of fraud by the way? I must have missed that.

I'm probably thinking of the old Equitable Life debacle.