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Published on May 2, 2013
former financial editor of the Scottish Sunday Herald now London based blogger Ian Fraser on the Big Bang open season on fraud indicated by the Court Of Appeal overturning four fraud convictions in the County NatWest Blue Arrow rights issue where dealers fraudulently misrepresented the share price. European Central Bank (ECB), European Union (EU) & International Monetary Fund (IMF) or Troika impose one off tax of between 6% & 10% on Cypriot bank accounts in exchange for bailout. Blue Arrow, County Nat West trial, rights issue for Manpower buyout; financial bribes for Libor rigging. Libor 'Rain Man' dealer Tom Hayes was known to be the best Libor fixer in the business. Hayes' pay package more than doubled from $2m to $5m when he moved from UBS to Citi bank, however, he was fired by Citi in September 2010 and in December 2012 he was arrested by London's Serious Fraud Office (SFO) and bailed without charge. Separately, he was charged with wire fraud, price-fixing and conspiracy by the US Department of Justice and his extradition requested. According to an article in the Wall Street Journal, Hayes is now turning queen's evidence, 'singing like a canary', and seeking to prove to the authorities that Libor rigging was condoned at the highest levels at his former employers. Jennifer Arcuri, a close friend of Hayes, said he is helping police with their inquiries. He believes he's innocent, Arcuri told the WSJ. She added that trying to rig Libor was common industry practice. It was like spanking children in the 1970s -- condoned from the top. Trader Roger Darin also charged with conspiracy, wire fraud and an antitrust violation; financial press too close to the city; Cyprus and contagion; the ECB as Europe's feudal overlord. http://www.radio4all.net/index.php/pr...