Libor Rigging Case: Tom Hayes Convicted To 14 Years in Prison

Discussion in 'Wall St. News' started by dealmaker, Aug 3, 2015.

  1. dealmaker

    dealmaker

    Tom Hayes, a former yen derivatives trader at UBS AG (NYSE:UBS) Group, wasconvicted to 14 years in prisonin connection with theLibor riggingcase. He was the first person convicted by a jury for manipulating the global benchmark.
    The Serious Fraud Office of the United Kingdom accused Mr. Hayes as the ringleader of more than a dozen traders manipulating the Libor. Mr. Hayes is a mildly autistic mathematician and was given the nickname “Rain Man” by his colleagues. The jury convicted Mr. Hayes of eight counts of conspiracy to defraud.

    http://www.valuewalk.com/2015/08/li...m_campaign=EMAIL_DAILY&utm_content=quick_link
     
  2. JTrades

    JTrades

    He'll be out after 7 years. Still harsh.