Former ICAP brokers known as 'big nose' and 'Lord Libor' helped Tom Hayes rig the London interbank offered rate “enthusiastically” over four years, prosecutors said on the first day of the second trial into benchmark manipulation.
Also in court is their former boss, Danny 'Blair' Wilkinson, and former employees at RP Martin Holdings and Tullett Prebon. All six have pleaded not guilty.
Hayes, who traded derivatives for UBS and Citigroup in Japan, was convicted August 3 of conspiring with others to defraud by manipulating yen Libor between 2006 and 2010, and sentenced to 14 years. He is appealing the conviction and the sentence.
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