Reuters reports that British lawmakers on Tuesday accused
Barclays former CEO Bob Diamond of misleading a parliamentary inquiry into an
interest rate-fixing scandal that has forced him to resign and give up bonuses
worth up to 20 million pounds ($30 million).
Diamond hit back, calling the comments made by a parliamentary committee
"unfair and unfounded".
The affair became a major political issue in Britain this
month, after authorities fined Barclays more than $450 million for its part in
manipulating a crucial interbank interest rate. Diamond resigned on July 3.
Marcus Agius, the chairman of Barclays when its traders
fiddled the rate, appeared before a hostile parliamentary panel as part of its
investigation into the row which as caused widespread public anger in Britain. Agius was the first Barclays executive to quit when the
scandal erupted but that was not enough to protect the hard-charging Diamond,
who was forced out of the 300-year-old bank a day later… The panel pressed Agius repeatedly on what it
saw as inconsistencies between Diamond's evidence last week and the contents of
a letter from the financial watchdog to the bank, which was released at the
start of Tuesday's hearing…..
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