Don't `Put It in Writing,' Hayes Told Colleague at Citigroup
- Hayes gave tips to traders, brokers as resistance mounted
- Messages shown to jurors at trial of six brokers in London
British trader Tom Hayes leaves Southwark Crown court in London on May 26, 2015 after a day of evidence in his trial over alleged rigging of the London Interbank Offered Rate (Libor).
Photographer: Ben Stansall/AFP via Getty ImagesThis article is for subscribers only.
Tom Hayes schooled brokers and traders on how to downplay requests to manipulate Libor as scrutiny of the benchmark rate intensified in 2010 after he joined Citigroup Inc., according to e-mails and messages at a trial in London.
Hayes, who was convicted in August of manipulating the benchmark, asked a junior colleague in Tokyo to help him push a version of the rate lower in a March 2010 instant message. The electronic chat was read to jurors by prosecutors in the fifth week of a trial of six former brokers.