FBI’s Washington Field Office Investigates Manipulation of Interest Rates

D.C. Field Office/gov photo
Steve Neavling

The FBI’s Washington field office is best known for investigating terrorism and public corruption.

Now, the office is leading an investigation of the manipulation of interest rates, Bloomberg reports.

The work has paid off so far, with two international resolutions, including a $1.5 billion settlement with UBS AG in December and the arrests of two of the bank’s former traders.

“We’ve got an enormous amount of resources devoted to this,” Timothy Gallagher, the head of the Washington criminal division who is overseeing the probe, told Bloomberg.

Investigations of corporations and security fraud often was the job of the bureau’s New York office, Bloomberg wrote.


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