Fraud squad Libor action

Michael Bow
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THE SERIOUS Fraud Office could bring charges against a former UBS trader at the centre of Libor-rigging allegations as early as this week, it is thought.

Thomas Hayes, a former UBS yen trader who worked for the bank in Tokyo between 2006 and 2009, was charged with a conspiracy to commit fraud by the US Justice Department last December.

Hayes was one of three men arrested by the SFO last December and then released on bail.

Libor is a key interest rate used in the City and the wider financial system.

UBS declined to comment. The SFO and Hayes’ lawyer could not be reached for comment.