Britain charges ex-UBS trader over Libor rate scandal

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Britain's Serious Fraud Office said on Tuesday that former UBS trader Tom Hayes had become the first person to be charged in its probe into the Libor rate-rigging scandal that has rocked the banking sector.

"Tom Hayes, a former trader at UBS...has today been charged with offences of conspiracy to defraud in connection with the investigation by the Serious Fraud Office into the manipulation of Libor," the SFO said in a statement.