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The Boston Globe

Business

Ex-Citigroup trader among 3 held in Libor case

First of British arrests as global inquiries proceed

LONDON — A former Citigroup trader is among three people held in the first British arrests as part of global probes into tampering with the London interbank offered rate, two people familiar with the matter said Tuesday.

Thomas Hayes, a former trader at UBS AG and Citigroup, was arrested by the Serious Fraud Office and City of London Police on Tuesday, said the people, who asked not to be identified because the investigation is continuing.

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