RT: Published time: 3 Aug, 2015Tom Hayes, a former yen derivatives trader at UBS and Citigroup, has become the first person found guilty of rigging benchmark interest rate. Along with other traders, he manipulated Libor, a benchmark for interest rates on trillions of dollars.
Former trader Hayes, 35, was found guilty of eight counts of conspiring after a nine-week trial in London. Each count brought by the Serious Fraud Office carries a possible 10-year prison sentence.
Read More: http://www.rt.com/business/311448-trader-libor-rigging-scandal/