Tom Hayes Libor Jail Sentence Cut to 11 Years, Conviction Upheld
- Ex-UBS trader's sentence reduced to 11 years by U.K. court
- Judges take his `mild Asperger’s' condition into account
Photographer: Simon Dawson/Bloomberg
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Tom Hayes, the former UBS Group AG and Citigroup Inc. trader dubbed “Rain Man” by ex-colleagues, had his jail sentence for rigging Libor cut to 11 years after judges said his punishment was too harsh.
A panel of three of the U.K.’s most senior judges reduced the 14-year sentence, one of the country’s longest for a non-violent criminal, following a two-day hearing. The court upheld Hayes’s conviction for conspiracy to defraud.