Former city trader Tom Hayes fights his conviction and wins

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Recorded05 Aug 2025

Publisherrss.podplaystudio.com

Handlerec:9174064

Show notes

Tom Hayes spend five years in jail for rigging the key benchmark interest rate among banks known as LIBOR. He used to work for UBS and Citi banks and vigorously protested his innocence. Two weeks ago the UK Supreme Court agreed with him and quashed the conviction. But how did it come to pass that an individual and not a wealthy bank would be sent to prison for doing his then job and what happens now to those other traders who pleaded guilty in similar circumstances in order to minimise their punishment? Tom Hayes joined Joe this morning to tell his story.

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