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Evening Standard
Evening Standard
National
Rosie Shead

Former trader who had conviction quashed sues ex-employer for more than £300m

Tom Hayes UBS Carlo Palombo Citigroup Jordan Pettitt the Supreme Court
Tom Hayes had his conviction quashed by the Supreme Court in the UK in July (Jordan Pettitt/PA) - (PA Archive)

A financial market trader who spent five and a half years in jail before his conviction was quashed is suing his ex-employer for more than 400 million US dollars (£300 million).

Former Citigroup and UBS trader Tom Hayes was found guilty of multiple counts of conspiracy to defraud over manipulating the London Inter-Bank Offered Rate (Libor) between 2006 and 2010.

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