Ex-trader Tom Hayes was sentenced to 14 years in jail by a London court on Monday after being found guilty of conspiring to rig Libor benchmark interest rates following a seven-year global investigation. After a nine-week trial and seven days of deliberations, the jury of five women and seven men found Hayes, a 35-year-old former UBS (UBSG.VX) and Citigroup (C.N) trader, guilty of all eight counts of conspiracy to defraud. In the first trial of a defendant accused of Libor rigging, Hayes had faced up to 10 years imprisonment for each count of conspiracy over the manipulation of London interbank offered rate (Libor), a crucial benchmark for around $450 trillion (£288.3 trillion) of financial contracts and consumer loans, between 2006 and 2010. The London trial, which kicked off on May 26, marked a new phase in the inquiry that has led to 21 people being charged and some of the
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