Libor trader tells court managers knew what he was doing - It will be the same in the factoring industry

A trader accused of manipulating the Libor rate has told a court that senior managers knew what he was doing. 

Tom Hayes denied that what he was doing was "clandestine" 

Tom Hayes is the first trader to be tried by a jury for his part in the manipulation of the key interest rate.
"I acted with complete transparency... My managers knew, my manager's manager knew. In some cases the CEO [chief executive] was aware of it," he said.

The former UBS and Citigroup trader denies eight counts of conspiracy to defraud over the period 2006-2010.

Continue reading: http://www.bbc.co.uk/news/business-33426974