Thursday, December 20, 2012

8-UBS traders charged, bank fined $1.5 bln in Libor scandal

.S. prosecutors charged two former UBS traders with taking part in a multi-year scheme to manipulate Libor and other benchmark interest rates, making them the first individuals to be criminally accused in the international scandal.

The charges against the two traders, Tom Hayes and Roger Darin, resulted from a broad investigation into the activities of more than a dozen banks in the setting of prices for Libor and related rates.

http://www.reuters.com/article/2012/12/20/ubs-libor-idUSL5E8NJ25N20121220