Tom Hayes, Face of Libor Scandal, Sues UBS for $400 Million

The Wall Street JournalMonday, October 27, 2025 at 9:04:00 PM
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Tom Hayes, Face of Libor Scandal, Sues UBS for $400 Million
Tom Hayes, the notorious figure behind the Libor scandal, is suing UBS for a staggering $400 million. After spending five years in prison for manipulating the benchmark interest rate, Hayes is now seeking compensation, which raises questions about accountability in the banking sector. This case not only highlights the consequences of financial misconduct but also reflects ongoing debates about the integrity of financial institutions.
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First banker jailed over Libor interest rate rigging to sue UBS for $400m
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Tom Hayes, the first banker imprisoned for his role in the Libor interest rate rigging scandal, is taking legal action against UBS, seeking $400 million. He argues that he was unfairly targeted as a 'hand-picked scapegoat' to protect the bank from regulatory scrutiny. This case highlights ongoing issues of accountability in the banking sector and raises questions about the fairness of the legal proceedings surrounding the scandal.
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