http://www.aljazeera.com/news/europe/2013/02/20132615478654896.html
RBS, a major UK based bank has been fined $615 million for rate rigging, and has been found guilty of wore fraud in japan. the scandal involved twenty one traders in offices of london, singapore, and tokyo. These officials illegally manipulated the london interbank offered rate. This manipulation resulted in change in rate of trillions of dollars of loans given out in the UK as well as the united states. In an effort for a settlement, the bank agreed to plead guilty to wire fraud in japan, but managed to settle the charges in the United States and the United Kingdom. This scandal went on from 2006 to 2010. The interesting fact here is that the fine that the bank has to pay is so relatively small that the bank has planned to pay it simply by tapping into their employee bonuses. The manipulation of the LIBOR has had a big enough impact to have direct impact on global economy.
It's a shame to see things like this happening. People manipulating factors so that they will benefit from it at the cost of everyone else. As Ashkan stated in his summary, when something of this magnitude happens in one country it has a ripple effect that can be felt through out the world in many other countries economies.
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