Fraud squad prepares for first Libor trial

 
Marion Dakers

FORMER UBS and Citigroup trader Tom Hayes will appear in court on Monday to answer charges related to the Libor-rigging scandal.


The Serious Fraud Office has asked more than 20 other people set to be named on the indictment against Hayes to apply for injunctions to protect their anonymity if they wish.

Tom Hayes is expected to enter a plea for eight counts of conspiracy to defraud at Southwark Crown Court on Monday, and will appear along with Terry Farr and James Gilmour from RP Martin, who were charged with Libor offences in July.

UBS, JP Morgan, RBS, Deutsche Bank, ICAP, RP Martin, Tullett Prebon, Rabobank, HSBC and Citi have been named in earlier hearings.

Hayes was arrested in December 2012 along with two others as part of the Serious Fraud Office’s investigation into the manipulation of the London Interbank Offered Rate.


His charges relate to his time at Citi and UBS between August 2006 and September 2010.