LIBOR Conspirator, Tom Hayes Ordered to Pay £878k Fine

[kreslik.news]

The ongoing saga of Tom Hayes, the inaugural individual to be convicted for the manipulation of the London Interbank Offered Rate (LIBOR), has taken a new twist today, after being ordered to pay a confiscation order of $1,240,267 (£878,806) by a UK Central Criminal Court, according to a Serious Fraud Office (SFO) statement.

Back in January, a total of six former brokers accused of LIBOR rigging were acquitted by a jury following a lengthy four-month trial. The SFO had alleged that all six defendants – who had collectively worked for ICAP, RP Martin Holdings, and Tullett Prebon – ... (read more)