UK Libor trader Hayes loses appeal against rate-rigging conviction
The Straits Times - World·2024-03-27 21:01
LONDON - Tom Hayes, the first trader jailed worldwide for interest rate rigging, lost his appeal against his conviction on Wednesday, with London's Court of Appeal ruling that it was illegal to take commercial interests into account when setting rates.
Hayes, a former star Citigroup and UBS trader, was convicted in 2015 of conspiracy to defraud by manipulating Libor, a benchmark rate once used to price trillions of financial products globally.
……Read full article on The Straits Times - World
UK
One-stop lifestyle app dedicated to making life in Singapore a breeze!
Comments
Leave a comment in Nestia App