Libor Convict Hayes ‘Burst Into Tears’ At Chance to Appeal
- Ex-UBS trader called the ‘ringmaster’ at rigging trial
- Hayes said he wept when his lawyer called with the news
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Tom Hayes, the former star trader who became the face of the Libor scandal, has consistently maintained his innocence. Now he is a step closer to overturning his high-profile criminal conviction.
The ex-UBS Group AG and Citigroup Inc. trader served five and a half years of an eleven-year sentence in jail for rigging key benchmark rates to boost his own trading positions — prosecutors called him the “ringmaster.” But in a rare decision from the agency which probes suspected miscarriages of justice in England, he’ll now get a shot to go before appeal judges.