Six former City brokers, including one nicknamed “Lord Libor”, allegedly helped to rig the borrowing rate that allowed a trader to “cheat” as part of a “dishonest scheme”, a court has heard at the beginning of their trial.
The men were described as “willing and enthusiastic” as they acted to “corrupt a process that should not have been corrupted”, a jury at Southwark crown court was told.
Noel Cryan, 49, Darrell Read, 50, Danny Wilkinson, 48, Colin Goodman, 53, James Gilmour, 50 and Terry Farr, 44, worked for interdealer brokers, where they are accused of conspiracy to defraud by trying to manipulate the Japanese yen Libor rate.
Prosecutors accuse the men of conspiring with Tom Hayes, a former Tokyo-based trader for UBS, who later joined