Tom Hayes, a former trader at UBS and Citigroup, has been charged with eight counts of conspiracy to defraud relating to alleged manipulation of Libor.
by Martin Strydom, The Telegraph:
The 33-year-old was charged by City of London Police on Tuesday and will appear before Westminster Magistrates’ Court at a later date.
He was one of three people arrested in raids on homes on December 11 as part of the Serious Fraud Office’s ongoing investigation into the manipulation of the benchmark interest rate.
Mr Hayes has also been charged in relation to the rigging of Libor in the United States.
Last year UBS agreed to pay £940m to regulators in order to settle charges of manipulating Libor interest rates, fraud and paying bribes to brokers.
The penalty was the second-largest fine paid by a bank and was more than three times the £290m fine levied on Barclays in June for attempting to rig the Libor benchmark rate used to price financial contracts around the world.
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