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City trader sues UBS after rate-rigging conviction quashed
A former trader who had his conviction quashed for "rigging" interest rates following a 10-year legal battle is suing his former employer UBS. Tom Hayes launched a legal claim for malicious prosecution against the Swiss banking giant, claiming he was the bank's "hand-picked scapegoat" in one of the biggest scandals of the 2008 financial crisis. In July, Mr Hayes had his conviction overturned by the Supreme Court after it was ruled unfair. He had been jailed in 2015 for manipulating interest rates used for loans between banks. A complaint filed in a US court said the Mr Hayes was seeking $400m (£300m) in damages. ... (full story)
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- Oct 27, 2025 6:16pm Posted byEntertainment211.0K
