Skip to main content

SFO To See If It Can Get Someone Hanged, Drawn And Quartered For Liborgate

U.K. authorities jailed a banker and they liked it... Oh, they liked it.
  • Author:
  • Updated:


So it seems we might have been a bit premature in declaring that former Citigroup and UBS Libor-fixer Tom Hayes would have to do enough time in prison to sate the public’s anger at all Libor-manipulators, none of whom, obviously, would share his fate. But the U.K. Serious Fraud Office has learned that it seriously likes the taste of victory, and wouldn’t mind filling the jails of Britain with a few more like Hayes.

David Green, the director of the U.K.’s Serious Fraud Office, said Tuesday in an interview with The Wall Street Journal that he plans in the fall to file criminal charges against other former bankers for allegedly manipulating the London interbank offered rate, or Libor. He declined to comment on their identities or seniority or the exact timing.

Those charges would come in addition to the 11 men who are already awaiting London trials for their alleged roles in the rate-rigging scandal and a 12th banker who worked at a British bank and has pleaded guilty. Six former brokers who allegedly conspired with Mr. Hayes are set to stand trial in London from September; they have pleaded not guilty.

U.K. Serious Fraud Office Plans More Libor Charges in the Fall [WSJ]


If Tom Hayes Had To Do It All Over Again, He’d Only Manipulate Libor With Native English Speakers

Allegedly colluding with a French guy led to all kinds of problems (like putting stuff about (alleged!) collusion in writing because someone's accent was too thick to understand).

Citi, UBS Libor-Rigger To Serve Everyone’s Prison Sentence

Tom Hayes is going away for a whopping 14 years.

Ex-Trader Convicted Of Libor Manipulation Made Written Request To Colleague Not To Put Libor Manipulation Requests In Writing

And then presumably slapped himself on the forehead and shouted "Idiot!" immediately after hitting send.