SFO reportedly to bring Libor charges against more bankers

Britain’s Serious Fraud Office (SFO) is planning to bring criminal charges against more former bankers for allegedly manipulating the Libor rate, the Wall Street Journal reported on Tuesday.

In an interview with SFO Director David Green, the WSJ said the charges would come in addition to the 11 men who are already awaiting London trials for their alleged roles in the rate-rigging scandal and a 12th banker who worked at a British bank and has pleaded guilty.

Former UBS and Citigroup trader Tom Hayes was yesterday sentenced to 14 years in in jail after being convicted of trying to fraudulently rig Libor.

Six former brokers who allegedly conspired with Hayes are set to stand trial in London from September; they have pleaded not guilty.

Green declined to comment on the identities of any new individuals he planned to bring charges against, or their seniority, the WSJ said.

Evidence presented at Hayes’ trial showed his bosses and other senior executives at the banks involved in his scheme knew about his efforts to get other bankers and brokers to help him rig Libor to increase his trading profits.

Hayes’ former bosses have not been charged.