Tom Hayes found guilty of rigging Libor

Former trader given 14-year prison sentence

Tom Hayes
Tom Hayes

Tom Hayes, a former UBS and Citi trader, has been found guilty of eight counts of conspiring to rig Libor between 2006 and 2010.

The former yen derivatives trader was sentenced to 14 years in jail on August 3 in London in the first conviction in the Libor-rigging scandal.

The verdict comes three years after Barclays was fined for attempted manipulation of the Libor and Euribor benchmarks by the Commodity Futures Trading Commission, the US Department of Justice and the Financial Services

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