A jury at Southwark Crown Court in London had the 36-year-old Tom Hayes previously in eight cases guilty who had played in the 2006 to 2010. The man regarded as the head of a global network manipulation.
The former investment banker Hayes had the allegations initially granted, but then denied again before a London court. He had the only reason known in police interrogation guilty to avoid extradition to the US, where it significantly tougher penalties were threatened, Hayes said
Theme:. Pure greed
jury at Southwark Crown Court evaluated the police interrogation as credible. She looked pure greed as a motive. Hayes had, inter alia, stated that the manipulations were an industry-wide phenomenon and not an isolated case. “I have participated in an industry-wide practice that began before my arrival at UBS and after my exit from UBS continued,” he said. The Libor interest rate governs the cost at which banks lend money to each other. He is also the basis for some real estate loans.
Hayes, who also worked at Citigroup after UBS, is the first of many suspects in the Libor scandal, was sentenced. Many banks had been forced to pay hefty fines to authorities in London, Washington and Brussels – including the German bank, the Swiss UBS and the US CitiGroup
Video: increased provisions – German bank puts more money for. Disputes back
Provisions increased – German bank puts more money in disputes back
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