“A former City trader accused of conspiring to rig bank interest rates tried to enlist his stepbrother into the alleged scheme, a court has heard.
Tom Hayes, described as the “ringleader” in a conspiracy to influence the Libor interest rates, pleaded with Peter O’Leary to try and persuade an official at HSBC bank to help keep the key interest rate low in order to profit Mr Hayes’ financial trades.
In a taped telephone conversation, played to the jury at Southwark Crown Court, Mr Hayes was heard telling Mr O’Leary: “If you get to know him, he would be a massive help to me,” adding: “Got $1m of risk ... If ... it [the Libor rate] moves by a basis point, for my fix that’s worth 125k plus.”
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