Former Citigroup and UBS trader, 35-year-old Tom Hayes, has gone on trial in London for his alleged role in the Libor exchange rate fixing scandal.
He is the first of 21 charged individuals to face a judge in the case.
Hayes faces eight counts of conspiracy between 2006 and 2010. The charges carry a sentence of 10 years in jail.
The prosecution claimed Hayes was the “ringmaster” in the complex international fraud, and that he recruited a large number of people to go along with the scam.