LONDON - Tom A.W. Hayes, a former trader at UBS and Citigroup charged with fraud related to the manipulation of a global benchmark interest rate, is to remain on bail until his next court hearing in October, a judge said on Thursday.
Mr. Hayes made his second court appearance in London after being charged last month with eight counts of fraud related to his time at the two banks from 2006 to 2010. Wearing a dark suit, white shirt and no tie, Mr. Hayes spoke only to confirm his name.
Given the large number of documents linked to the case, Mukul Chawla, the lawyer for the prosecution, said it would take about three months to pull together a full case summary.
“To describe it as voluminous would be an understatement,†Mr. Chawla said, referring to the case.
Judge Anthony Leonard said Mr. Hayes would be expected back at court during the week of Oct. 21. Mr. Hayes has not yet entered a plea.
Mr. Hayes is charged with “the intention that the economic interests of others would be prejudiced and/or to make personal gain for themselves or another,†according to the prosecution. His is the first criminal case in Britain tied to the rigging of the London interbank offered rate, or Libor.
