British trader charged over Libor manipulation

Tuesday 18 June 2013 11.26
Tom Hayes formerly worked as a trader for UBS and Citigroup
Tom Hayes formerly worked as a trader for UBS and Citigroup

A City of London trader has been charged with offences of conspiracy to defraud in connection with the investigation by Britain’s Serious Fraud Office into the manipulation of the Libor interbank lending rate.

Former UBS and Citigroup trader Tom Hayes, who is 33 and from Surrey, was one of the three individuals arrested on 11 December by officers from the SFO and City of London Police.

This morning he attended Bishopsgate police station where he was charged with eight counts of conspiracy to defraud.

He will appear before Westminster Magistrates' Court at a later date.

The SFO said its investigation into the manipulation of Libor continues.