Six brokers face court in Libor-rigging trial

Six former brokers from ICAP, RP Martin and Tullett Prebon facing trial for Libor rigging are due to appear in court today. 

Darrell Read, Colin Goodman, Danny Wilkinson, Terry Farr, James Gilmour and Noel Cryan will face trial at Southwark Crown Court for conspiring with UBS and Citigroup trader Tom Hayes to fix the Libor rate. 

In August, Hayes was the first person to be sent to jail for Libor rigging. He was sentenced to 14 years in prison for his part in the scandal, rigging rates while at UBS and CItigroup.

All the defendents in the current trial have pleaded not guilty. The trial is expected to last around three months.

Last month the FCA dropped its case against UBS trader Panagiotis Koutsogiannis after it failed to convince an independent panel of the case against him.