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The Boston Globe

Business

Ex-trader to face trial in Libor-rigging case

LONDON — Tom Hayes, the former UBS and Citigroup trader, conspired with employees of at least five other banks and three interdealer brokers over a four-year period to manipulate Yen Libor rates, prosecutors said Thursday.

Hayes appeared at a London criminal court for the first time Thursday, and prosecutors laid out the charges against him. The 33-year-old was charged with working with employees at JPMorgan Chase, Royal Bank of Scotland Group, HSBC Holdings, Rabobank Groep, and Deutsche Bank, as well as Tullett Prebon, ICAP, and RP Martin Holdings, Britain’s Serious Fraud Office read out in documents Thursday.

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