“British law-enforcement authorities arrested three men Tuesday as part of a widening criminal investigation into attempted manipulation of interest rates.

The U.K. Serious Fraud Office said the three British nationals, aged 33, 41 and 47, were questioned at a London police station and that authorities searched their homes near London.

While the SFO didn’t identify the men, one of them is Thomas Hayes, a former trader at UBS AG and Citigroup Inc., according to people familiar with the matter. Authorities in multiple countries have been looking into Mr. Hayes as an alleged coordinator of a group of employees at multiple banks who sought to manipulate the London interbank offered rate, or Libor, according to people familiar with the case.”

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