Rouge trader jailed 14 years over Libor rate-rigging

A London Jury found former City trader 35-year old Tom Hayes guilty on all eight charges and sentenced to 14 years in prison for conspiracy to defraud at the London Court of rigging global Libor interest rates. He is the first individual to face a jury trial for manipulating the rate, which is used as…

Viagra added to clear spirits and sold in China

Investigators of food and drug administration have seized 5,300 bottles of alcohol and packets of a white powder called Sildenafi, better known as Viagra the anti-impotence drug in the southern city of Liuzhou. According to food safety officials, distillers in China added Viagra to thousands of bottles of spirits and told customers it had “health-preserving…