March 23, 2016 BY Maria Nikolova

UK Court issues $1.2 million confiscation order to Tom Hayes

Southwark Crown Court today ordered Tom Hayes, the first individual to be convicted for the manipulation of LIBOR, to pay a confiscation order of £878,806 ($1.24 million). Hayes was convicted of eight counts of conspiracy to defraud in August 2015 and sentenced to 14 years in prison. In December 2015, the sentence was reduced to…

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