UK's Guilty Verdict In Libor Trial Bodes Well For DOJ

Law360, New York (August 3, 2015, 7:22 PM EDT) -- The U.K.’s Serious Fraud Office scored a critical win Monday when a London jury found former UBS and Citigroup derivatives trader Tom Hayes guilty of conspiring to manipulate the London Interbank Offered Rate, but the ruling may also help the U.S. Department of Justice in its own cases against individual bankers.

Hayes, who was convicted on all eight counts of fraud for allegedly playing a role in the manipulation of the key global benchmark interest rate, was also sentenced to 14 years in prison. He is...
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