Ex-trader faces Libor-rigging trial

Former UBS trader Tom Hayes is today due to face trial in England on a series of charges in relation to allegations of Libor rate rigging.

Ex-trader faces Libor-rigging trial

Former UBS trader Tom Hayes is today due to face trial in England on a series of charges in relation to allegations of Libor rate rigging.

Hayes, 35, of Fleet, Hampshire, will appear at London’s Southwark Crown Court for a trial expected to last two to three months, before Mr Justice Cooke.

He has denied charges of conspiracy to defraud covering a period from 2006 to 2010.

Libor is the term for benchmark rates that underpin hundreds of trillions of pounds worth of contracts from mortgages to corporate lending.

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