Three held in Libor probe named

Three men arrested in connection with an investigation into the manipulation of Libor, the interbank lending rate, were an ex-trader who worked for UBS and two interdealer brokers, according to a report.

The arrests were made on Tuesday in London, the Serious Fraud Office (SFO) said. Tom Hayes, 33, a former trader who has worked in London and Tokyo and who specialised in products pegged to yen-dominated Libor, was taken to Bishopsgate police station following a search of his home, the Financial Times reported.
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