Britain charges trader over Libor scandal

June 18, 2013 21:20

A former UBS and Citigroup trader today became the first person to be charged by British authorities in the probe into last year's Libor rate manipulation scandal that shook the global banking sector.

British citizen Tom Hayes has been charged with eight counts of conspiracy to defraud, and will appear before Westminster Magistrates' Court in London on Thursday.

"Tom Hayes attended Bishopsgate police station this morning where he was charged by City of London police with eight counts of fraud," the Serious Fraud Office (SFO) said in a statement here today.

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