(Corrects year of dismissal in second paragraph.)
Thomas Hayes, a former trader at UBS AG (UBSN) and Citigroup Inc., was arrested by the Serious Fraud Office and City of London Police in its investigation into the manipulation of the London interbank offered rate, according to two people familiar with the matter.
Hayes, who was dismissed from Citigroup in 2010 for suspected involvement in rate manipulation, was one of three men arrested today in the U.K., said the people, who asked not to be identified because the investigation is ongoing.
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