Tom Hayes, ex-UBS and Citigroup trader was found guilty for his role in the Libor scandal. The once “star trader” faces eight counts of conspiring to rig Libor and 14 years in prison. While this was the first conviction in the scandal that has sprawled across the globe, the U.K. Serious Fraud Office has achieved significant victory in this case, the Financial Times reports. In its early stages, the regulator alleged that Hayes, along with 24 others conspired to manipulate benchmark interest rates.
