City dealer sentenced to 14 years in jail in reference to Libor rigging scandal hoping listening to shall be a watershed in overturning his conviction
‘Ruined’: Tom Hayes spent 5 years in jail
A City dealer sentenced to 14 years in jail in reference to the Libor rigging scandal is hoping a listening to subsequent month shall be a watershed in overturning his conviction.
Tom Hayes spent years behind bars – at one stage sharing a cell with a assassin – after turning into the primary Briton convicted of fixing Libor charges in 2015.
The Serious Fraud Office (SFO) argued that Hayes, 43, was the ‘ringmaster’ of a global conspiracy to repair the worldwide benchmark for rates of interest. His 14-year sentence was later diminished on attraction to 11 years. He ended up serving five-and-a-half years and claims the expertise ruined his life.
Since his launch in January 2021, Hayes has been vocal in protesting his innocence and making an attempt to clear his name.
He insists he was a ‘sacrificial lamb’ in a ‘stitch-up between the banks, regulators and the prosecutors’.
Numerous bankers have been jailed within the UK because the monetary crash, together with Hayes. He informed The Mail on Sunday: ‘I believe all the merchants had been scapegoats. We had been the collateral injury.’
The Criminal Cases Review Commission – the organisation that examines potential miscarriages of justice – will evaluate his case in a fortnight.
The former UBS and Citigroup dealer, who has a younger son together with his former spouse Sarah Tighe, is hopeful that latest authorized choices throughout the Atlantic will increase his trigger.
Last month, a US court docket cleared bankers Gavin Black and Matthew Connolly, who had been prosecuted over the Libor scandal. The landmark ruling has led to Hayes’ indictment within the US being dismissed. It means interest-rate rigging is not considered against the law within the US. Hayes stated it was ‘ironic’ that he confessed in UK courts to keep away from extradition to the US, the place his name has since been cleared.
A report by former Magic Circle lawyer Rupert Macey-Dare stated the US ruling ‘should absolutely improve the probability’ of Hayes’ conviction being overturned.
The SFO stated a number of Libor convictions have been reviewed by the Court of Appeal ‘and all have been upheld’.