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The Guardian - UK
The Guardian - UK
Business
Alex Daniel

Rate-rigging convictions of five bankers referred to UK appeals court

Tom Hayes Carlo Palombo CCRC UBS
The supreme court
The cases have been referred to the CCRC after the supreme court found faults in Tom Hayes’ original trial, including the judge giving ‘inaccurate and unfair’ instructions to the jury. Photograph: Aaron Chown/PA

Five more former bankers convicted of rigging interest rates will be given a fresh chance to clear their names, after the supreme court overturned a decade-old ruling against the trader Tom Hayes last year.

The Criminal Cases Review Commission (CCRC) said on Thursday that it had referred the ex-City traders’ convictions back to the court of appeal. The men were jailed between 2016 and 2019 on charges of manipulating the euro interbank offered rate, Euribor, or the now defunct London interbank offered rate, Libor.

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