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Ex-UBS trader faces extradition over Libor charges

Ex-UBS trader faces extradition over Libor charges

A former UBS trader is facing extradition after he was charged with conspiracy to manipulate the Libor rate by US authorities, following the bank’s $1.5 billion fine for its role in the scandal.

British trader Tom Alexander William Hayes, 33, was charged yesterday alongside Roger Darin, a 41-year-old Swiss trader, by the US Department of Justice. Hayes will also be charged in a New York federal court with wire fraud.

He was among three men arrested by the Serious Fraud Office. According to reports, the US charges are likely to spark a wrangle between UK and US authorities over Hayes’ case.

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