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LIBOR riggers included Bank of England's 'Hammer' in their e-mail plotting
Bank of England Official Received Emails Relating to Libor Manipulation, Prosecutor Says
By David Enrich
The Wall Street Journal
Wednesday, May 27, 2015
LONDON -- A senior Bank of England official received emails that were part of an alleged campaign to rig benchmark interest rates, according to evidence presented in a London trial today.
Martin Mallett, who at the time was the chief currencies dealer at the Bank of England, was among a couple dozen recipients of emails sent in 2007 by brokers allegedly working at the behest of former bank trader Tom Hayes. The recipients were blind carbon-copied on the messages.
In the emails, the brokers sent out daily suggestions for where a variety of banks should set the London interbank offered rate, or Libor. Mukul Chawla, the prosecutor trying Mr. Hayes, said those emails were used in an attempt to skew interest rates for the benefit of Mr. Hayes, at the time a trader in Tokyo at UBS AG.
Mr. Mallett, nicknamed "The Hammer," was sent the emails at his email@example.com address. ...
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