Tom Hayes wins fight to overturn Libor-rigging conviction
Hayes, a former star trader for UBS and Citigroup, in 2015 became the first person in the world to be convicted by a jury of manipulating Libor, which was the world's most widely-used interest rate benchmark, and spent about five and a half years in prison.
However, the UK's highest court ruled on Wednesday that the jury ten years ago was misdirected by the judge, Mr Justice Cooke, and that this 'undermined the fairness of the trial'.
Carlo Palombo, an ex Barclays trader who separately was sent to prison in 2019 for manipulating Euribor, a similar rate to Libor, has also had his conviction quashed on similar grounds. Both were originally convicted of conspiracy to defraud.
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North Wales Chronicle
an hour ago
- North Wales Chronicle
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Daily Mirror
2 hours ago
- Daily Mirror
Brit mum arrested in Mauritius with son, 6, is being held in hellhole prison
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