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The Independent UK
The Independent UK
National
Nina Massey and Danny Halpin

Traders found guilty of rigging interest rates have convictions quashed by Supreme Court

Carlo Palombo Tom Hayes SFO the Supreme Court the Serious Fraud Office

Former financial market traders Tom Hayes and Carlo Palombo, who were found guilty of benchmark interest rate rigging, have had their convictions quashed at the Supreme Court.

Mr Hayes, a former Citigroup and UBS trader, was found guilty of multiple counts of conspiracy to defraud over manipulating the London interbank offered rate (Libor) between 2006 and 2010.

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