Former banker and Citigroup director , Tom Hayes , who was jailed last year for trying to manipulate Libor , has written to the Serious Crime Office that the Bank of England knew about how the market was " lowballed " leading up to the financial crisis . Hayes has written to David Green QC, head of the SFO, after an email emerged in a civil lawsuit suggesting the Bank of England Hayes has consistently claimed that many banks set Libor rates that suited the market and that also suited their own positions , with the blessing of regulators .
Former banker and Citigroup director , Tom Hayes , who was jailed last year for trying to manipulate Libor , has written to the Serious Crime Office that the Bank of England knew about how the market was " lowballed " leading up to the financial crisis . Hayes has consistently claimed that many banks set Libor rates that suited the market and that also suited their own positions , with the blessing of regulators .