Libor Brokers Are Players in `Show Trial,' Defense Lawyer Says
- Men are scapegoats for broken financial system, lawyer says
- Darrell Read's lawyer gives closing statement at London Trial
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The six interdealer brokers accused of helping Tom Hayes rig Libor are scapegoats for a broken financial system where everyone set Libor to suit their trading positions, a lawyer for one defendant told jurors Thursday.
Both senior management and the highest levels of the British establishment knew about Libor rigging, Henry Blaxland, the lawyer for ex-ICAP Plc broker Darrell Read, said during closing arguments. The men were victims of an elaborate "show trial" that is both unfair and unjust, he said.