How a junior trader paid for the banks crisis – while the big bosses escaped the dock

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The Libor scandal 10 years ago saw Tom Hayes being found guilty and sentenced to 14 years. As his conviction is quashed, Chris Blackhurst looks at how he was made an example of for a much bigger problem, where most got off scot-free

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he wheels of British justice are appallingly slow. Back in 2016, I wrote that the conviction of Tom Hayes, the bank trader jailed for conspiring to manipulate the Libor interest rate, was unsafe. Today, finally, the Supreme Court has agreed to quash his conviction.