Two former UBS traders have been charged by US prosecutors in connection with alleged efforts to manipulate Libor interest rates.
The move comes after the Swiss bank was fined £940 million by regulators for “extensive and widespread” attempts to rig interbank lending rates.
Former traders Tom Hayes and Roger Darin have been charged with conspiracy to manipulate the interbank lending rate.
Mr Hayes has also been charged with wire fraud and an antitrust violation.
The US criminal charges are the first to be brought in the worldwide scandal.
UBS agreed a record £160 million penalty from the UK’s Financial Services Authority (FSA) earlier yesterday after admitting to fraud and corrupt payments to brokers.
