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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.
Sam Townend KC explains the Bar Council’s efforts towards ensuring a bright future for the profession
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Westgate Wealth Management Ltd is a Partner Practice of FTSE 100 company St. James’s Place – one of the top UK Wealth Management firms. We offer a holistic service of distinct quality, integrity, and excellence with the aim to build a professional and valuable relationship with our clients, helping to provide them with security now, prosperity in the future and the highest standard of service in all of our dealings.
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