Trader wrongly jailed for rate-rigging may sue for millions
Tom Hayes, who served five and a half years in prison for fraud, said he would seek legal advice on bringing civil claims after his 2015 conviction was overturned on Wednesday. Possible targets of legal action could include the banks that employed him before he was arrested.
Mr Hayes said: 'Whether I have any civil claims against any parties is yet to be determined. I'm not ruling it out, but I don't have sufficient information yet. I need to take advice.
'I can't at this moment in time know what I'm going to do. All I would say is that everyone in the US who had their convictions overturned, almost to a man, sued their former employer banks and reached settlements.'
Karen Todner, Mr Hayes's lawyer, said he was investigating whether to bring a possible claim against various authorities. She said there was a high probability he would launch a claim.
Lawyers said Mr Hayes could potentially win millions in compensation from various parties involved in the case, including the Serious Fraud Office (SFO), which prosecuted him, and his ex-employers, based on loss of earnings.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
16 minutes ago
- The Independent
Schoolboy who stabbed fellow pupil to death suffered abuse at home, trial told
A schoolboy who stabbed a fellow pupil to death during their lunch break had suffered 'physical and emotional abuse' at home, a court heard. The 15-year-old is on trial accused of murdering Harvey Willgoose, also 15, who was killed at All Saints Catholic High School in Sheffield on February 3. On Wednesday, Sheffield Crown Court heard two consultant forensic psychiatrists agreed that there was 'evidence of physical and emotional abuse and neglect in (the defendant's) home life, including lack of food and excessive physical chastisement'. In a list of agreed facts read to the jury by junior defence counsel Richard Holland, the psychiatrists said his 'oppositional behaviour and defiance' was more obvious in school. They said that if he had had 'appropriate boundaries and discipline' he would have better emotional regulation, and that incidents of aggression in the weeks and months before the alleged murder were 'examples of his difficulties in controlling his emotions, including anger'. Mr Holland said another report by two psychologists found the defendant's below average levels of verbal comprehension were because of his 'adverse early experiences rather than a neurodevelopmental disorder'. The court also heard a copy of Harvey's school timetable was found in the defendant's bedroom, and that only a member of staff or Harvey would have been able to print it off. A jury has heard that the defendant, who cannot be named, has admitted manslaughter but denies murder. He has also admitted possession of a knife on school premises. Addressing the jury at the beginning of the trial, Gul Nawaz Hussain KC, defending, said: '(The defendant) did not set out to kill or seriously hurt anyone. 'The defence say (the defendant's) actions that day were the end result of a long period of bullying, poor treatment and violence, things that built one upon another until he lost control and did tragically what we've all seen.' The trial continues.
.jpeg%3Ftrim%3D44%2C0%2C46%2C0%26width%3D1200%26height%3D800%26crop%3D1200%3A800&w=3840&q=100)
The Independent
16 minutes ago
- The Independent
Perlight Black Grid solar panel review: best for long warranty
This Perlight Black Grid review explores why this panel is a top choice for homeowners seeking both long-term performance and an extended warranty. It's part of our expert-reviewed guide to the best solar panels for UK homes. If you're weighing up whether solar panels are worth it, this review — and our full guide to the best solar panel installers — will help you make an informed decision. The Perlight Black Grid solar panel stands out in a crowded market, not only for its sleek design and solid efficiency but for offering one of the longest warranties available. Choosing the best solar panels for your home involves more than just headline specs, especially as installation is often the most expensive part of the total cost of solar panels. That's why long-term durability matters. Commercial solar growth has driven significant tech advances in recent years. Many panels now offer similar specs on paper — comparable power output, 25- to 30-year lifespans, and sleek all-black designs. But with installation often being the largest part of the overall , and British weather posing its own set of challenges, the stakes for getting the right system are high. While solar panel prices have dropped dramatically, thanks in part to China's manufacturing scale and innovation, installation costs remain high due to labour, scaffolding, and system integration. So it's worth considering the total system cost, not just the price per panel, when selecting the best panel for your home. Why choose the Perlight Black Grid? Price, installed: £895 to £1,195 per kW Efficiency: 26 per cent Wattage per panel: 500W Type: N-Type Made in: China Degradation: 87.4 per cent after 30 years Warranty: 30 years Founded in 2006, Perlight is a Chinese manufacturer of solar panels with a long track record. Its Black Grid solar panel offers an impressive 30-year warranty — five years longer than the industry standard — making it ideal for those looking to maximise long-term savings and reduce replacement concerns. This longer guarantee can offer extra peace of mind, particularly if you're financing your solar panel system over time or plan to remain in your home for decades. That said, many panels rated for 25 years will likely keep performing beyond their warranty period. In terms of performance, the Perlight Black Grid solar panel also offers better efficiency and a higher power rating, delivering 500W per panel, than other solar panels on our list. While the degradation rate is slightly lower than other top-tier models, it still holds up well, retaining nearly 87 per cent of output after 30 years. The company is also somewhat shy about filing facts about itself compared to its competitors, although it passes all the necessary regulatory hurdles. One downside is that Perlight isn't a Tier-1 manufacturer, meaning it hasn't been ranked by BloombergNEF for financial transparency and bankability. However, it has a long track record and its global footprint — shipping to over 100 countries — and compliance with international standards suggest a reliable product. The panels also have high pressure resistance, meaning they should be able to withstand the bumps, bangs and weather that 30 years on a roof will throw at them. The panels are built with high pressure resistance, which should help them withstand the UK's often unpredictable weather over several decades. Like most solar panels on the market today, these are manufactured in China, which has invested heavily in clean energy production and now dominates the global solar supply chain. China's lead in silicon refinement and solar R&D means many of the world's best solar panels come from Chinese firms. While the cost of panels has fallen by about 90% since 2000, installation costs have risen due to labour and inflation, so total system cost still needs careful budgeting. Pros: Market-leading 30-year warranty High efficiency and power output Cons: A 30-year product warranty is hard to come by in any product but Perlight offers one of the longest warranties available in the market Paul Evans, head of renewables at solar panel fitter Glow Green How we compiled our guide To compile our list, we spoke to experts on the ground and have broken down the top-performing brands based on real-world value, not just technical specs. We've prioritised long-term performance, value for money, and the reputation of the best solar panel installers in the UK. And if you're wondering if solar panels are worth it for your home, this guide is designed to help you make a smart, informed decision that pays off over time, whether you're upgrading an old array or fitting solar panels for the first time. Most panels are guaranteed for 25 years and offer similar power output, size, efficiency and looks. So we've weighted our judgement towards cost and degradation, which describes how much power the cells will provide after a number of years. The higher the percentage, the better. Much of your decision will also depend on which installer you go with, as many have preferred brands they work with due to bulk purchasing. You'll also see a lot of unfamiliar Chinese names as you do your research, but many of these are Tier-1 manufacturers in clean energy with strong track records in quality and durability. Why trust us
The Independent
16 minutes ago
- The Independent
Reform UK unveils ex-Tory MP Adam Holloway as latest defector
Nigel Farage has secured his latest defection from the Conservative Party, with ex-Tory MP Adam Holloway announcing he has become a member of Reform UK. The Reform leader will welcome Mr Holloway, a 60-year-old ex-army officer who was MP for Gravesham until July last year when he lost his seat to Labour, as the latest in a line of defectors from the Tories. He follows ex-Tory colleagues in parliament Dame Andrea Jenkyns Lee Anderson, Marco Longhi and Sir Jake Berry to jump ship to Mr Farage's party. Speaking as his defection was announced, Mr Holloway said: 'There comes a moment for many soldiers — and most politicians — when you realise the battle you think you're fighting isn't the one your leaders are waging. Many in Britain feel we may already have passed the point of no return. Our cities grow less cohesive, the country effectively bankrupt. 'That moment came for me watching Kemi Badenoch tell Trevor Phillips there are real differences between Reform UK and the Conservatives. She was right. The difference is the Reform leadership and voters grasp the scale of our national peril and back a party serious about addressing it. "I joined the Army to serve the country, not the institution. The same applies now. If we want to rescue Britain, we must be honest about who's still willing to fight for her." Mr Holloway was the Conservative MP for Gravesham from 2005 until last year's general election. He was briefly an assistant government whip in 2022 and held roles on the Home Affairs Committee and European Scrutiny Committee. He was replaced by Labour's Dr Lauren Sullivan at the election, losing his seat by 2,712 votes. During his time as a Tory MP, Mr Holloway was a vocal backer of his ex-colleagues Charlie Elphicke and Imran Khan, both of whom were convicted of sexual offences. Mr Holloway was found by the Parliamentary Commissioner for Standards to have attempted to improperly influence judicial proceedings in attempting to have a judge block pre-sentencing character testimonies. Previously Mr Holloway was found by the sleaze watchdog to have breached MPs' rules by failing to register two rental properties and not declaring a payment and the source of a trip he took. Mr Holloway has also been asked to repay £1,000 after he tried to claim council tax on his parliamentary expenses twice. Mr Farage told The Spectator: 'Adam's parliamentary and military experience will be vital as we look forward to the next general election'. The Reform leader added that Mr Holloway's 'bold move shows that we are the only serious option in Kent and is testament to the fantastic work our councillors are delivering across the region'. The ex-MP's defection to Reform comes as Mr Farage seeks to show his insurgent right-wing party is not running out of steam after a recent surge in the polls. There have been no defections of sitting MPs to Reform since Lee Anderson joined the party in March 2024. Those who have defected have typically done so after losing their seats fighting as Conservatives in the general election. In parliament, Mr Holloway voted against conducting air strikes on ISIS in 2014 after visiting the border with the Islamic State, and abstained on a vote for air strikes in 2015. In 2008, Adam Holloway accepted a trip to Syria and Lebanon from an organisation that described its aim as to engage with terrorist groups such as Hamas and Hezbollah in order to 'facilitate dialogue between political Islam and the West'. The Conservative Party declined to comment on the defection.
