A New Zealand resident known as "Big Nose" was one of six brokers that helped convicted trader Tom Hayes manipulate bank rates by acting as middlemen between him and other traders, a London court has heard.
The six are former brokers of ICAP, RP Martin and Tullett Prebon and their trial began in the Southwark Crown Court in London overnight.
The group - Wellington resident Darrell Read, Colin Goodman, Danny Wilkinson, Terry Farr, James Gilmour and Noel Cryan - are defending charges of conspiracy to defraud.
They are accused of helping Hayes, a former Tokyo-based UBS and Citigroup trader, profit from his yen derivatives trades.
"They were rewarded in various ways to corrupt a process that should not have been corrupted," said prosecutor Mukul Chawla, according to the Financial Times.