Britain’s Tom Hayes, former Libor trader, allowed to appeal conviction

LONDON, July 6 (Reuters) – Former star UBS and Citigroup trader Tom Hayes, the first defendant jailed during the Libor interest rate scandal, will have his case sent back to the Court of Appeal.

The decision marks a turning point for the former trader, released from jail on licence in 2021 having served half of an 11-year sentence for conspiracy to defraud following a global investigation into Libor rigging.

The Criminal Cases Review Commission (CCRC), an independent body that investigates potential miscarriages of justice, said on Thursday the case had been referred to appeal “after a wide-ranging and complex review” that lasted more than six years.

“I am delighted that the CCRC has referred my case back to the court of appeal today after a six and half year investigation,” Hayes said in a statement.

“It is now time for all those convicted of Libor rigging to get justice. Although we have all served our custodial sentence, the scars of our experiences remain today and continue to plague us.” (Reporting by Kirstin Ridley)

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