Trader Gets 14 Years for $450T Rigging

BANKSTER

Updated Apr. 14, 2017 10:12AM EDT / Published Aug. 03, 2015 11:12AM EDT

Former UBS trader Tom Hayes was convicted by a London court on Monday for rigging a global interest rate known as Libor, which regulates more than $450 trillion in assets. Hayes has been sentenced to 14 years for conspiracy to defraud. Hayes was found guilty on all eight charges and he is the first to face a trial for manipulating the rate.

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Trader Gets 14 Years for $450T Rigging

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