US court drops Libor rate-rigging charges against ex-UBS trader

Judge dismisses case against British former trader Tom Hayes, who was jailed over interest rate scandal

A New York court has dismissed a criminal indictment against Tom Hayes, the British former trader at UBS and Citigroup who served five and a half years in a UK prison for rigging the Libor lending benchmark.

Prosecutors in the US filed a motion to dismiss the case against Hayes and another former UBS trader, Roger Darin.