TWO FORMER RP Martin brokers yesterday became the latest traders to be charged as part of the global Libor rate-rigging investigation.
Terry Farr and James Gilmour, both from Essex, appeared at Bishopsgate police yesterday. The pair were arrested in December at the same time as Tom Hayes, the former Citi and UBS trader who was last month charged with eight offences.
Farr, 41, faces two counts of conspiracy to defraud and Gilmour, 48, is charged with one count. They will appear at Westminster Magistrates’ Court on Friday for a preliminary hearing, the Serious Fraud Office said yesterday.
RP Martin declined to comment. Hayes is yet to enter a plea and will appear at Southwark Crown Court in October.
The London interbank offered rate (Libor) is used as a reference for more than £364 trillion in contracts. Last week, NYSE Euronext was confirmed as the new steward of the benchmark, taking over from the British Bankers’ Association.
The global probe into Libor has so far cost banks billions of pounds in fines and last year led to the departure of Barclays chief executive Bob Diamond.