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Trader guilty over Libor rate rigging
Source: BBC
Trader guilty over Libor rate rigging
9 minutes ago Business
Former City trader Tom Hayes has been found guilty at a London court of rigging of global Libor interest rates.
He is the first individual to face a jury trial for manipulating the rate, which is used as a benchmark for trillions of pounds of global borrowing and lending.
Many of the world's leading banks have paid heavy financial penalties for tampering the key benchmark.
The jury found Hayes guilty on all eight charges of conspiracy to defraud.
Each count carries a possible 10 year sentence.
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9 minutes ago Business
Former City trader Tom Hayes has been found guilty at a London court of rigging of global Libor interest rates.
He is the first individual to face a jury trial for manipulating the rate, which is used as a benchmark for trillions of pounds of global borrowing and lending.
Many of the world's leading banks have paid heavy financial penalties for tampering the key benchmark.
The jury found Hayes guilty on all eight charges of conspiracy to defraud.
Each count carries a possible 10 year sentence.
[font size=1]-snip-[/font]
Read more: http://www.bbc.com/news/business-33763628
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