Tom Hayes, the former star UBS trader who became the face of the Libor rigging scandal, overturned his criminal conviction at the UK’s top court clearing his name a decade after he was sent to jail. In a stunning reversal, the UK Supreme Court quashed the convictions of Hayes and ex-Barclays Plc trader Carlo Palombo on Wednesday. The court allowed both appeals, stating that the juries had been misdirected by judges at both criminal trials. Hayes was given an 11 year sentence after appeal for rigging Libor in 2015, while Palombo was jailed for four years in 2019 for manipulating Euribor. Our legal reporter and deputy London bureau chief Jonathan Browning joins Stephen Carroll and Lizzy Burden with the details. (Source: Bloomberg)
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Former Star Trader’s Libor Rigging Conviction Overturned
