Former UBS and Citi trader was convicted in August over Libor manipulation
The Libor trader sentenced to 14 years in
prison for manipulating interest-rate benchmarks in August has
failed in his appeal to overturn the ruling but had his
sentence cut by three years.
Former UBS and Citigroup trader Tom Hayes
was in August found guilty by a London jury on eight counts of
conspiracy, for his role in rigging the London interbank
offered rate (Libor).
The Libor trader was sentenced to 14 years
in prison over interest-rate rigging but had his sentence cut
to 11 years by a panel of three judges at The Court of Appeal
in London on Monday on the grounds of Hayes’ mild
Asperger’s condition and the fact that he was not
in a management role.
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