UBS Trader Hayes Exposed in Libor Probe as E-Mails Released
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Tom Hayes, one of two former UBS AG traders charged by U.S. prosecutors, is portrayed by American regulators as the kingpin of a three-year campaign that succeeded in manipulating global interest rates.
Hayes, 33, was charged with wire fraud and price-fixing, the Department of Justice said in a criminal complaint unsealed yesterday. The trader and Roger Darin, a former short-term interest-rates trader at UBS whose responsibilities included the firm’s yen Libor quotes, were also charged with conspiracy. Yen Libor reflects how much banks charge each other for loans in the Japanese currency.