And they’re off: Royal Ascot racegoers put on a patriotic show as iconic horse racing meet gets underway
Tom Hayes Libor trial timeline key dates: Former trader accused on attempting to manipulate Libor rate August 3, 2015 Well, that's it: former UBS and Citibank trader Tom Hayes has been sentenced to 14 years in jail, after being found guilty on eight counts of conspiring to rig the Libor rate. During a nine-week trial, the prosecution painted Hayes as someone who acted in a "thoroughly dishonest and manipulative manner" to mastermind a web [...]
Ex-trader Tom Hayes sentenced to 14 years as he is found guilty on Libor charges August 3, 2015 Former City trader Tom Hayes was sentenced to 14 years in jail as he became the first person to be convicted over the Libor rate rigging scandal, after being found guilty on all eight counts of conspiring to defraud by a jury at Southwark Crown Court today. The jury had been out for a week, [...]
Jury sent out to consider verdict in Tom Hayes libor-rigging trial July 29, 2015 The jury has been out to consider the verdict in the trial of former trader Tom Hayes who is accused of attempting to manipulate the Libor rate. The former UBS and Citigroup yen derivatives trader, who is 35, denies eight charges of conspiracy to defraud between August 2006 and September 2010. Prosecutors have branded Hayes "greedy" and [...]
Barclays and UK fraud office eye deal over criminal probe into Qatar July 21, 2015 Barclays is widely believed to be in talks with the Serious Fraud Office (SFO) over a potential deal to resolve a long-running criminal probe into the bank’s dealings with Qatari investors in 2008. The SFO has proposed the possibility of a deferred prosecution agreement (DPA) linked to the bank’s fundraising activities during the financial crisis. [...]
Sepp Blatter resigns as president of Fifa June 2, 2015 Fifa boss Sepp Blatter resigned from his presidency of the organisation, after weeks of accusations in the run-up and following his re-election as president. Read more: Blatter's Fifa reign is four times longer than the average FTSE boss In a last-minute press conference called this afternoon, Blatter said the organisation "needs a profound restructuring", and [...]
Fifa crisis: Barclays, HSBC and Standard Chartered to launch internal review following FBI investigation May 31, 2015 Barclays, HSBC and Standard Chartered are all believed to have launched internal investigations into their role in the Fifa corruption scandal that has engulfed world football this week. The British banks were all named in the US Department of Justice's (DOJ) lawsuit against 14 people – including nine Fifa officials – for racketeering, wire fraud and [...]
From Fifa and Greece to the rail strike and Queen’s Speech: Here’s what got us talking this week May 29, 2015 There was a speech. There was a protest. There were some strange-looking balloons. And rapidly receding in our memories, there was a bank holiday. Here's what got us talking this week 1. Fifa was in the news Commentators expressed but little surprise when a number of Fifa officials were arrested this week, but [...]
Serious Fraud Office to examine Fifa allegations after being accused of “failing its duty” May 29, 2015 Britain's Serious Fraud Office (SFO) will examine information relating to alleged Fifa corruption after announcing it is "ready to assist in ongoing international criminal investigations". Two large British banks – HSBC and Barclays – were both named in the indictment filed by the US Department of Justice (DoJ), which led to the explosive arrest of [...]
Trader Tom Hayes accused of greed and dishonesty in Libor-rigging scandal May 26, 2015 The first trial of a trader accused of fraudulently attempting to manipulate key interest rate benchmark Libor began in Southwark yesterday. Prosecutors said Tom Hayes, a 35-year-old former UBS and Citigroup trader, was “greedy” and used his position over several years to engage in the “dishonest rigging of Libor”. Hayes, who pleaded not [...]
Libor-rigging scandal: Tom Hayes lost his Citi job over his methods, prosecutors tell court May 26, 2015 Former trader Tom Hayes was fired in 2010, four years after he started attempting to manipulate Libor, according to the prosecution’s case in court yesterday. Lawyers presenting the Serious Fraud Office’s (SFO) case in Southwark Crown Court said the former UBS and Citi banker received complaints just months after he started to work at [...]