ADVERTISEMENT

Former trader Hayes found guilty in world's first trial

The London trial that kicked off on May 26, marks a new phase in a seven-year, global inquiry that has seen 21 people charged and some of the world's most powerful banks and brokerages pay around $9 billion in regulatory settlements.

Former trader Hayes found guilty in world's first Libor trial

Tom Hayes, a former UBS and Citigroup trader, was found guilty of charges of conspiracy to defraud on Monday as a jury delivered its verdict in the first trial of a defendant accused of Libor interest rate rigging.

Hayes, a 35-year-old former yen derivatives trader, faces up to 10 years in jail for each count of conspiracy over the manipulation of the London interbank offered rate (Libor), a crucial benchmark for around $450 trillion of financial contracts and consumer loans, between 2006 and 2010.

Enhance Your Pulse News Experience!

Get rewards worth up to $20 when selected to participate in our exclusive focus group. Your input will help us to make informed decisions that align with your needs and preferences.

I've got feedback!

JOIN OUR PULSE COMMUNITY!

Unblock notifications in browser settings.
ADVERTISEMENT

Eyewitness? Submit your stories now via social or:

Email: eyewitness@pulse.ng

Recommended articles

Reps committee give SEC 21 days to reconcile ₦45 billion unremitted funds

Reps committee give SEC 21 days to reconcile ₦45 billion unremitted funds

Poor enrolment forces NECO to postpone common entrance exam for 2 months

Poor enrolment forces NECO to postpone common entrance exam for 2 months

Plane is forced to land early after dog defecates in first class

Plane is forced to land early after dog defecates in first class

Step-by-step guide on how to check your prepaid metre as a Band A user

Step-by-step guide on how to check your prepaid metre as a Band A user

Abia Police investigate alleged murder of hotel manager by suspected soldiers

Abia Police investigate alleged murder of hotel manager by suspected soldiers

Suspended UniCal dean seeks end to sexual harassment charge against him

Suspended UniCal dean seeks end to sexual harassment charge against him

Air Peace offers London-to-Lagos driver Pelumi free ticket to fly back to UK

Air Peace offers London-to-Lagos driver Pelumi free ticket to fly back to UK

President Tinubu declares April 7 as National Police Day

President Tinubu declares April 7 as National Police Day

El-Rufai tells Tinubu to drop appointees who fail to deliver

El-Rufai tells Tinubu to drop appointees who fail to deliver

Pulse Sports

Lionel Messi's son breaks the internet after scoring five goals for Inter Miami

Lionel Messi's son breaks the internet after scoring five goals for Inter Miami

Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe

Naija Stars Abroad: Onyedika, Boniface, and Osimhen shine across Europe

Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024

Victor Osimhen and Tobi Amusan make list of Forbes’ 30 under 30 Class of 2024

Alex Iwobi makes Premier League history which Mikel, Yakubu, Kanu could not achieve

Alex Iwobi makes Premier League history which Mikel, Yakubu, Kanu could not achieve

Like Michael Jordan - Details of Victor Osimhen’s ‘superhuman’ jump against Monza emerges

Like Michael Jordan - Details of Victor Osimhen’s ‘superhuman’ jump against Monza emerges

ADVERTISEMENT
ADVERTISEMENT