A former trader for UBS and Citigroup has been charged in connection with the manipulation of the London inter-bank offered rate, representing the first criminal charges brought in wake of the scandal.
Tom Alexander William Hayes, 33, was charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office and the manipulation of Libor.
Mr Hayes was one of three invdividuals arrested on 11 December 2012 by officers from the SFO and City of London Police.
This morning (18 June) at Bishopsgate police station Mr Hayes was charged with eight counts of conspiracy to defraud. He will appear before Westminster Magistrates’ Court at a later date.
The SFO confirmed to FTAdviser that it may pursue criminal charges in relation to its Libor investigation in the summer of last year.
In February 2013, the SFO was given an additional £10.5m to fund the investigation.
The SFO confirmed its investigation into Libor manipulation was continuing.
