Ex-UBS Trader Hayes Manipulated Libor For Profits, SFO Says (1)

Ex-UBS Group AG star trader, Tom Hayes, agreed to manipulate and rig Libor to dishonestly boost profits, prosecution lawyers said asking the UK’s top court to reject attempts to overturn his conviction.

The Supreme Court appeal over the conviction of Hayes and ex-Barclays Plc trader Carlo Palombo for rigging Libor and Euribor will come to an end on Thursday. The judges will have to weigh whether Britain’s first and most high profile criminal trial over rate rigging was unfair.

Tom Hayes at the Supreme Court in London on March 25

Photographer: Chris Ratcliffe/Bloomberg

Hayes sought to dishonestly increase profits “by agreeing to manipulate, move, influence or rig the published Libor ...