Trader accused of being serial liar at Libor trial

Pointing Finger

Tom Hayes is a serial liar who changed his story multiple times to save himself amid a widening global scandal over the rigging of Libor, prosecutors said.

Bloomberg News reports that Mukul Chawla, the chief prosecutor, said Hayes has lied repeatedly since he was first questioned about Libor rigging by Citigroup in 2010, when interviewed by the Serious Fraud Office in 2013 and again to jurors in London Monday.

'You’re perfectly prepared to lie when it suits your purposes', said Chawla on his first day cross-examining Hayes in London. The prosecutor described Hayes’s defence as a 'pack of lies'.

Hayes started the day under intense questioning from prosecutor Chawla, who accused Hayes of changing his story first to avoid extradition, and now to escape prison. Chawla used the words 'lie' and 'dishonest' more than two dozen times.

'I want to understand when you decided that you were going to embark on a series of lies'. Chawla asked during one particularly terse exchange. 'Was it' during the SFO interviews 'or was it later?'.

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

Hayes Lied Repeatedly Amid Global Libor Probes, Prosecutor Says

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