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Business News

Three City traders deny charges of fraud by rigging Libor interest rates

Three City of London traders who are accused of manipulating markets by rigging Libor benchmark interest rates denied all the charges yesterday at Southwark Crown Court.

The former UBS and Citigroup trader Tom Hayes, 34, pleaded not guilty to eight charges of conspiracy to defraud.

James Gilmour, 48, denied one count of conspiracy to defraud and Terry Farr, 42, denied two such charges. Both are former brokers at RP Martin.

Mr Hayes is now expected to stand trial in January 2015, while Mr Gilmour and Mr Farr are scheduled to be tried in September 2015. All three were granted bail.