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former City dealer jailed for rigging the benchmark Libor charge has had his convictions referred to the Court of Appeal.
In 2015, former Citigroup and UBS dealer Tom Hayes was convicted of a number of counts of conspiracy to defraud over manipulating the speed beforehand used to set thousands and thousands of kilos value of monetary offers, together with automotive loans and mortgages.
In his trial, Hayes was described by prosecution counsel because the “ringmaster” on the centre of an unlimited fraud to govern the benchmark rates of interest and increase his personal six-figure earnings.
Hayes, who has maintained his innocence, spent five-and-a-half years in jail and was launched in January 2021.
We are dedicated to leaving no stone unturned in our complete opinions of potential miscarriages of justice
A earlier problem launched by Hayes was rejected in December 2015 by the Court of Appeal, although he succeeded in securing a three-year lower to his unique 14-year sentence.
The former dealer utilized to the Criminal Cases Review Commission (CCRC) in 2017.
On Thursday, the fee stated there’s a “real possibility” that the Court of Appeal might overturn his convictions and referred them to the courtroom to be reconsidered.
The fee’s determination comes after a courtroom within the United States overturned the convictions of two different ex-traders, who have been jailed in related circumstances, and costs towards Hayes within the US have been dropped.
CCRC chairwoman Helen Pitcher stated: “We have concluded after a lengthy and complex investigation that the Court of Appeal should clarify whether the right legal approach was taken in Mr Hayes’ case.
“We are committed to leaving no stone unturned in our comprehensive reviews of potential miscarriages of justice.”
