Jurors in the case of six former brokers accused of helping Tom Hayes rig Libor were told to disregard any sympathy they may have for the defendants as prosecutors wrapped up their arguments in the three-month-old trial.
Bloomberg News reports that 'cold, dispassionate review of the evidence' made it clear that the men were all willing participants in Hayes’s conspiracy, Serious Fraud Office prosecutor Mukul Chawla said as he began closing arguments in London Monday. 'You don’t need to be part of the financial community to understand it'.
The case has been subject to delays after one of the defendants - former ICAP manager Danny Wilkinson - fell ill and was admitted to a hospital last week. The 49-year-old Wilkinson was absent from the proceedings, but may be back in the coming days, Chawla told the jurors. His lawyers were in court.
Wilkinson and the five other British men, from Tullett Prebon and RP Martin Holdings as well as ICAP, are accused of helping Hayes nudge the yen variant of the London interbank offered rate up and down almost daily by deceiving banking clients about the state of the market, or leaning on them for favours. In exchange they were allegedly collectively paid hundreds of thousands of pounds in kickbacks, prosecutors claim.
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