UK trader Tom Hayes jailed for 14 years over rigging Libor rate
Former UBS and Citigroup trader Tom Hayes was on Monday sentenced to 14 years in jail for rigging the benchmark Libor inter-bank lending rate, in the first conviction of its kind.
The 35-year-old had earlier been found guilty on eight counts of conspiracy to defraud between 2006 and 2010, following a two-month trial at London's Southwark Crown Court.