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After a week’s deliberation, a jury at Southwark Crown Court found former City trader Tom Hayes guilty of conspiracy to defraud, for rigging Libor rates. Mr Justice Cooke sentenced him to 14 years’ imprisonment, stating that Hayes was the “centre and hub” of the manipulation. Hayes was the first person to face a jury trial as a result of the Serious Fraud Office’s investigation into the widespread manipulation of the interbank interest rate. The jury heard that Hayes had rigged the Libor rates daily for nearly four years, from 2006-10, while working for UBS and then Citigroup.
After a week’s deliberation, a jury at Southwark Crown Court found former City trader Tom Hayes guilty of conspiracy to defraud, for rigging Libor rates. Mr Justice Cooke sentenced him to 14 years’ imprisonment, stating that Hayes was the “centre and hub” of the manipulation. Hayes was the first person to face a jury trial as a result of the Serious Fraud Office’s investigation into the widespread manipulation of the interbank interest rate. The jury heard that Hayes had rigged the Libor rates daily for nearly four years, from 2006-10, while working for UBS and then Citigroup.
Update from the Chair of the Bar
By Clement Cowley, Partner at The Penny Group
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Endometriosis Awareness North, a charity raising awareness of endometriosis and supporting those affected across the North of England, has received a £500 boost from AlphaBiolabs via the company’s Giving Back initiative
A decade of reviews and research has disrupted accepted thinking in the search for causality. Suicides following abuse have overtaken domestic homicides. Is the law keeping up? Professor Susan Edwards KC (Hon) examines recent cases and the obstacles to successful prosecution
The case against judge-only justice – and why efficiency is not enough. By Professor Leslie Thomas KC
Heritage as an anchor and a compass, finding our common humanity and embracing the power of the outsider – Melina Antoniadis’s lessons learnt
Seeing the full picture – Baljit Ubhey OBE outlines the CPS action plan to tackle violence against women and girls, offering insights directly relevant to courtroom practice
Lauren Fullerton examines the how, what and why of setting up a second chambers base
