Tom Hayes, a former trader at UBS and Citigroup pleaded not guilty to conspiring to manipulate Libor in the first prosecution stemming from a global investigation into rate rigging.
Former trader Tom Hayes, who is facing criminal charges for the alleged manipulation of Libor interest rates, has changed law firms weeks before he is due back in a London court.
British prosecutors say they have extensive evidence against former trader Tom Hayes, the first suspect to come to court following a global investigation into the suspected rigging of interbank lending rates.
Tom Hayes, the former Citi and UBS trader at the centre of a global investigation into manipulation of Libor, will indicate how he wishes to plead to eight criminal charges as early as October.
Tom Hayes, one of two former UBS AG traders charged by U.S. prosecutors, is portrayed by American regulators as the kingpin of a three-year campaign that succeeded in manipulating global interest rates.