If the SFO files charges, it would be Britain’s first attempt to seek criminal recourse against a person they allege was involved in rigging the London inter-bank lending rate, The Telegraph reports.

Extradition

Mr Hayes was arrested last December by the SFO and was then released on bail.  The US Justice Department charged Mr Hayes and a former colleague in the same month for conspiracy to commit fraud.  
If charged in the UK, Mr Hayes would not face extradition to America due to British double jeopardy laws, The Times reports.
Mr Hayes has yet to comment. He was, however, quoted by The Wall Street Journal in January saying, ‘this goes much higher than me’.