LONDON, June 20 (Reuters) - Former UBS trader TomHayes appeared in a London court on Thursday accused ofconspiracy to defraud in connection with a global investigationinto the Libor interest rate rigging scandal.
Dressed in a blue open-necked shirt and pale trousers,33-year-old Hayes stood in the dock at London's WestminsterMagistrates' Court as the magistrate read out eight offencesrelated to his time at both UBS and Citi in Japan between August2006 and September 2010.
He is alleged to have conspired with employees from at least10 institutions including UBS, RBS, Deutsche Bank, Citi,JPMorgan, brokers ICAP, Tullett Prebon, RP Martin, HSBC,Rabobank and others.
Hayes spoke only to confirm his name and address and that heunderstood the charges against him.
Hayes was granted bail and told to appear at Southwark CrownCourt on July 4.
Hayes is the first suspect to face court in an enquirystretching from North America to Asia into how traders rigged crucial benchmark rates such as Libor (London interbank offeredrate), against which trillions of dollars of loans are priced.
The scandal, which has sparked public and political outrageand laid bare the failings of authorities and bank bosses, hasto date seen regulators fine three banks a total of $2.6 billionand prosecutors and police charge two men, including Hayes.
HSBC Holdings (HSBA)