Blow to Serious Fraud Office as brokers are cleared of plotting to rig the Libor rate with crooked trader Tom Hayes

Five stockbrokers – including one nicknamed Lord Libor – have been cleared of plotting to fix the banking rate in a bid to make millions of pounds of profit. The gang were accused of teaming up with crooked trader Tom Hayes in the ‘dishonest scheme’ to manipulate Libor – the rate used when banks lend to each other. Hayes, a former UBS and Citigroup trader, was jailed for 14 years last year – since cut to 11 on appeal – for conspiracy to rig the global Libor rates. In a major blow to the Serious Fraud Office, Colin Goodman,......