UBS rigged interest rates, The claimed instigator of a worldwide coin exchanging outrage that includes $350 trillion value of monetary subsidiaries got assistance from his manager at saving money goliath UBS, prosecutors in London said Thursday.
Tom Hayes' UBS chief, Mike Pieri, is reported requesting somewhat lower interest rates to suit Hayes' exchanges messages introduced in court. "We truly require some collaboration on the yen Libors [the interest rate] from the individuals who info," Pieri composed.
A subsequent email noticed that he got a few concessions from Hayes: "We will be a tiny bit lower. Each bit helps." The messages indicated in court additionally show some inside difference about the lawfulness of those moves.
Tom Hayes' UBS chief, Mike Pieri, is reported requesting somewhat lower interest rates to suit Hayes' exchanges messages introduced in court. "We truly require some collaboration on the yen Libors [the interest rate] from the individuals who info," Pieri composed.
A subsequent email noticed that he got a few concessions from Hayes: "We will be a tiny bit lower. Each bit helps." The messages indicated in court additionally show some inside difference about the lawfulness of those moves.
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