Trader said to tell boss: 'You don’t want to know'

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A broker at Tullett Prebon was able to stop an internal review of a $53,000 payment made by derivatives trader Tom Hayes for help rigging Libor by telling his boss that 'you don’t want to know' about it, according to tapes played to jurors Monday.

Bloomberg Reports that when questioned about the February 2009 payment, Noel Cryan, a former Tullett broker on trial in London for rigging the benchmark rate, told his boss, Simon Rogers, that he was better off looking the other way.

Cryan is one of six brokers from Tullett Prebon, ICAP and RP Martin on trial for conspiring to rig Libor, the benchmark used to value more than $350 trillion of loans and securities.

Hit the link below to access the complete Bloomberg article:

You Don't Want to Know: Tullett Manager Warned Off Hayes Payment

 

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