Angry Hayes denies Libor setters 'parroted' brokers' rates
Hayes says the investigation into Libor-rigging "lacked critical thinking" and says disagreements over appropriate Libor rates were the result of a personality clash
Testifying in his own defence in London's Southwark Crown Court today (July 9), ex-UBS and Citigroup trader Tom Hayes rejected the prosecution's claim that he had used brokers' daily recommendations to rig the Libor benchmark rate in his favour, saying the numbers did not bear that out.
Hayes faces eight charges of conspiracy to defraud in connection with the Libor-rigging scandal. He has pleaded
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