Ex-ICAP brokers plead not guilty to libor charges


Three ex-ICAP brokers pleaded not guilty to conspiring with traders at UBS and Citigroup to manipulate benchmark interest rates tied to the Japanese yen.

Bloomberg News reports that Daniel Wilkinson, Colin Goodman and Darrell Read entered their pleas in a London court today. Read appeared in a video-link from New Zealand, where he lives.

The men are accused of conspiring with former trader Tom Hayes and others at UBS in Japan from August 8, 2006 to December 3, 2009 to rig the yen London interbank offered rate, or Libor, to give an advantage to the bankers’ trades, according to the U.K. Serious Fraud Office, which is prosecuting the case.

To access the complete Bloomberg News article hit the link below:

Ex-ICAP Brokers Plead Not Guilty to Conspiring to Rig Libor

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