Six brokers accused of helping former UBS Group AG trader Tom Hayes rig benchmark rates used a range of excuses during questioning by prosecutors, including blaming colleagues and not knowing what Libor meant.
One former Tullett Prebon trader, Noel Cryan, said that he watched Hayes change from a shy, awkward rookie to an abusive trader with a 'god syndrome'.
The men, who worked for ICAP, RP Martin and Tullett, are charged with participating in a conspiracy to rig the London interbank offered rate, the benchmark used to value more than $350 trillion of loans and securities.
Hayes, who worked at Citigroup after UBS, was the first person convicted of charges related to the rate.
Hit the link below to access the complete Bloomberg article: