Ex-trader depicted as Libor 'ringmaster'

London

TOM Hayes, a 35-year-old former trader for Citigroup and UBS, was the "ringmaster" in a concerted effort to manipulate global benchmark interest rates to make as much money as he could, prosecutors said on Tuesday in a London court.

"It was that greed that led to his dishonesty on an enormous scale," Mukul Chawla, the prosecutor, told the jury.

In the opening of the first trial related to suspected rigging of the London Interbank Offered Rate, or Libor, Mr Chawla said that Hayes provided 82 hours of voluntary …