Former city trader Tom Hayes has been found guilty of conspiracy to defraud and sentenced to 14 years in jail for his role in rigging global Libor interest rates.
A former city trader has been accused of being “greedy” and “dishonest” for his alleged manipulation of Libor interest rates.
Members of the British Treasury Select Committee, US congressional investigators, state attorney generals and class actions lawyers who are investigating just who knew what and when in the sprawling investigations into the manipulation of LIBOR, would do well to emulate the forensic skills of former Manhattan District Judge Milton Pollack.
Last week, the British bank Barclays was slapped with $450 million in fines and penalties for manipulating information used to set a critical interest rate. Here’s a little background on the scandal.