Hayes Calls for All Rate-Rigging Convictions to Be Quashed (1)

Tom Hayes, the ex-UBS Group AG trader cleared of manipulating Libor by UK judges, says the other traders convicted of rigging benchmark interest rates should have their cases overturned.

“The other seven convictions — they all need to go,” Hayes said in an interview with Bloomberg TV on Thursday. “This is a battle in a war, and we won the first battle.”

On Wednesday, the UK Supreme Court quashed the convictions of Hayes and ex-Barclays Plc trader Carlo Palombo, stating that the juries had been misdirected by judges at both criminal trials. Hayes was given an ...