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The Guardian - UK
The Guardian - UK
Business
Jasper Jolly

US court drops Libor rate-rigging charges against ex-UBS trader

Tom Hayes UBS United States United Kingdom CCRC
Tom Hayes
Tom Hayes was the first person to be convicted by jury of leading a conspiracy to defraud by fixing the Libor rate in 2015. Photograph: Chris J Ratcliffe/Getty Images

A New York court has dismissed a criminal indictment against Tom Hayes, the British former trader at UBS and Citigroup who served five and a half years in a UK prison for rigging the Libor lending benchmark.

Prosecutors in the US filed a motion to dismiss the case against Hayes and another former UBS trader, Roger Darin.

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