Tom Hayes (trader)

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Tom Hayes (born October 1979) is a British former trader for UBS and Citigroup who was convicted of conspiring with others to manipulate the London Interbank Offered Rate (Libor) as part of the Libor scandal. He was sentenced to 14 years in prison - reduced to 11 years on appeal. Although Hayes initially cooperated with the Serious Fraud Office, he maintained his innocence and claimed during his original trial that he participated in an “industry-wide” practice, accusing regulators of making him a scapegoat. He asserted managers were aware of his actions, and even condoned them. He made multiple unsuccessful appeals, including to the Criminal Case Review Commission. In 2025, the Supreme Court finally overturned his conviction.

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