Ex-UBS Trader To Get Early Release On Libor Conviction

Law360, London (November 3, 2020, 4:43 PM GMT) -- Former UBS Group AG and Citigroup Inc. banker Tom Hayes, the first trader convicted of rigging Libor, will be released from prison in January after serving less than half of his 11-year sentence, his lawyer confirmed Tuesday.

Hayes, 41, will be released Jan. 29 after spending five-and-a-half years in jail following his conviction in 2015 for rigging the London interbank offered rate, an interest rate benchmark used to price trillions of dollars of securities, as part of a sweeping probe by Britain's Serious Fraud Office.

Hayes will remain subject to travel restrictions when he is released under U.K. law, which requires...

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