Ex-UBS trader estimated $1,560 bill for broker 'reward' dinner

Burrito

'I reckon with wine and service it will be about £1,000'.

Tom Hayes, the former UBS and Citigroup trader on trial in London on Libor rigging charges, told a broker to pay Hayes’ £1,000 ($1,560) restaurant bill as a reward for giving the broker business, a court heard on Tuesday.

Reuters reports that Hayes, a former yen derivatives trader based in Tokyo, was on gardening leave from UBS at the time in 2009, having been hired by Citigroup that year.

'I guess it will be a case of leaving your credit card details with the restaurant', Hayes wrote in an email on November 11, 2009 to the broker, who cannot be named for legal reasons.

'I really appreciate this, I reckon with wine and service it will be about £1,000 which I know is hefty', Hayes wrote in the email shown to the court.

Britain's Serious Fraud Office has charged Hayes with eight counts of conspiracy to defraud between August 2006 and September 2010, a criminal offence that can carry a jail sentence of 10 years.

To access the complete Reuters article hit the link below:

Hayes asked broker to pick up 1,000 pounds meal tab, Libor trial hears

Insight - JPMorgan builds up apartment-loan leader from WaMu rubble

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts