A plea hearing for Mr Hayes was set for the week commencing 21 October at Southwark Crown Court yesterday.
Mukul Chawla QC, the SFO’s barrister, is reported by the Financial Times to have said: “To describe [the case’s documentation] as voluminous would be a rather large understatement.”
Mr Hayes is the first individual to face criminal charges in the UK in relation to the scandal which led to a global investigation and record fines for some of the world’s largest banks.
Hayes was charged in June with eight counts of conspiring to rig the yen Libor rate between August 2006 and September 2012, following his arrest in December with two brokers from RP Martin. The tow brokers have not been charged.
He is alleged to have engaged in conspiracy to defraud with employees at RBS, Deutsche Bank, JP Morgan Chase, ICAP, RP Martin, Tullet Prebon, Rabobank and HSBC.
Hayes joined UBS in 2006, leaving to join Citigroup in 2009 but was fired a year later. He has been charged on Libor-rigging counts by the US Department of Justice, but has yet to enter a plea to the charges.
