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British trader charged in LIBOR investigation

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Staff writer |
Tom Alexander William HayesTrader Tom Alexander William Hayes has been charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office (SFO) into the manipulation of LIBOR.

Mr. Hayes of Surrey is a former trader at UBS and Citigroup. He was one of the three individuals arrested and interviewed on 11 December 2012 by officers from the SFO and City of London Police. He attended Bishopsgate police station where he was charged by City of London Police with eight counts of fraud. He will appear before Westminster Magistrates' Court at a later date.

The British SFO's investigation into the manipulation of LIBOR continues. On July 6, 2012 the SFO announced that it had decided to accept the LIBOR matter for investigation. On December 11, 2012 three residential premises in Surrey and Essex were searched and three men were arrested, interviewed and released on police bail.

The Serious Fraud Office is a government department responsible for investigating and prosecuting serious and complex fraud and corruption. It is headed by the Director, David Green QC, who exercises powers under the superintendence of the Attorney General.

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