Former trader Tom Hayes will not be able to appeal against his conviction after a watchdog refused to refer his case back to court.
Hayes, 42, said he was ‘disappointed and surprised’ by the decision of the Criminal Cases Review Commission (CCRC), which investigates miscarriages of justice.
The former UBS and Citigroup trader was convicted in 2015 for rigging the now-discredited Libor rate, a benchmark interest rate at which banks lend to each other.
Former UBS and Citigroup trader Tom Hayes (pictured) was convicted in 2015 for rigging the now-discredited Libor rate, a benchmark interest rate at which banks lend to each other
Before his trial, Hayes was diagnosed as having mild Asperger’s syndrome. He has insisted he was made a scapegoat by his employers, and that rigging Libor was condoned by his bosses.
Hayes, who spent half of his 11-year sentence behind bars before being released in January, will continue to make submissions to the CCRC until February 4, to overturn its ‘provisional’ decision.
He said the judgment was based on false admissions given to the Serious Fraud Office to avoid extradition to the US.
He said: ‘Had I not made such false admissions, I would not be in this invidious position. I will continue to fight to clear my name.’
This post first appeared on Dailymail.co.uk
