Tom Hayes, a 5 -year -old UBS dealer, describes the imprisonment that is fairly convicted of falsifying interest rates, similar to being justified

Hayes said luck The news took days to drown – although he was notified of the decision in advance.

“It was like 24 hours of anxiety, just like funny anxiety, like” will they change their opinion? Will they change the ruling? Will something change?

In the Hayes case, a UK court has found that a major interest rate used by banks as a criterion determines the costs of hundreds of millions of loans and mortgages all over the world. The “manipulation” was that Hayes and his colleagues in other banks would discuss the range of interest rates that their banks were ready to lend money to each other (“the average exhibition between their daughters in London” of interest, or Libor), then chose Hayes average within this range that was more useful for its bank.

During the trial, the general prosecutors argued that Hayes was the mastermind of a global operation to reform LIBor, which has now ended, and who supported everything from student loans to derivatives. The prosecutors argued that Hayes led a network of merchants and brokers to provide information that benefited from his trading and obtained illegal profits for himself and his owner.

In his defense, Hayes argued that the way in which their prices were placed is a routine part of the business, and that no one in banks – especially his superiors – was thinking that he was illegal.

The jury found that choosing a useful Libor rate was serving himself with corruption, and 45 -year -old Hayes was sent to prison.

However, after a decade of time insisted on his innocence, Hayes was justified last week when his condemnation was reversed. The court said that the judge, in the trial of Hayes, made a mistake in directing the jury in a way that “undermined the trial justice.” However, he did not completely exempt him, as the judges allowed “abundant evidence” during the Heiz trial that could lead to condemnation. The Supreme Court did not comment on the actions of the UK’s dangerous fraud office (SFO), which ruled Hayes.

Hayez does not agree with the Supreme Court’s demand “extensive evidence”. He argues that if SFO, who is investigating financial crimes, has chosen his case, if this is true. SFO said that he had not moved to re -surround Hayes because he decided to seek to re -trial “will not be in the public interest.”

And he told luck.

SFO refused to comment on luck Beyond what he said in a general statement.

Despite the condemnation of 19 other bankers in the United Kingdom and the United States for the LIBor scandal, 14 -year prison sentence from Hayes was among the harshest. Little more than five years served in prison (his sentence was reduced to 11 years at appeal) and another four years under observation.

He said that the condemnation of Hayes was reversed on July 23, but it was not until July 26 who hit the house.

This was the day when he opened a message from his sister. Hayes said she wrote to him almost every week, if not more, while he was in prison. After the decision to convict him, I sent another one.

He said: “The last message, I called it. She just said, as you know,” I thought I had to write to you this last time using the pen and paper. “The last paragraph of that was,” I am very proud of you, Tom. Here you never write a message for you again. The end of the era. And what is the end. “

Even today, it has somewhat struck and collapsed in crying. My little sister wrote to me every week in prison. Each letter was saved. This morning I opened another message from it. A final message, ending below. These messages were very important for me and a great way to close a chapter. pic.twitter.com/ejgyxiquk6– Tom Hayes (@robilypj) July 26, 2025

Tom Hayes: a scapegoat

Hayes is usually preferable to avoid attention. He said that in London underground, he loves to be mixed in a corner and looks at his phone to avoid getting to know him. Walking all over the city, his eyes are always installed on his feet.

Despite his inconvenience, the former stores of UBS and Citigroup have become recognized worldwide, some may say, as a man in the Libor scandal, which included countless actors, including bankers, banks and even World governments.

In the wake of the 2008 financial crisis, Hayes said that the longing for a scapegoat played in its condemnation as well. He said that obtaining a fair tremor was impossible, at a time when governments and the media were looking to keep the bankers into consideration after the major financial crisis.

From Hayes’s point of view, he and his fellow bankers were unfairly targeted to participate in routine commercial practices. At that time, everyone thought it was legal. Among those tried to Carlo Balumbo, former Barclays The UK Supreme Court also canceled last week, his conviction was canceled by forging another rate of another measurement, Euribor, last week.

He said: “Eric Holder gave a direct press conference to ship me when I did not talk to him by the Ministry of Justice. I had nothing to do with America, and I was charged with the same crime at the same time in the United Kingdom so that the terrorists did not get it.”

HEEES said that SFO, which, along with Hayes, also succeeded in trying nine other people due to forgery rates, contradicts itself because of its mandate for investigation and trial. In his case, SFO’s dependence on the investigation conducted by the external advisor of the former employer, UBS, was also a problem.

“There is a very dark aspect of the relationship between law firms from the third party that operate for suspected banks and pay hundreds of millions by these banks or suspected companies and acted in their interests, their relationship with public prosecutors and organizers and a manual approach where you know, they all have a similar goal.”

In prison, Hayes faced prisoners who could not believe that he had a long penalty for fraud and assumed that he was either the children of the children or a secret police officer. In prison, he moved away from the conflict, and it was only “deceived” as soon as he said, although the quarrel ended quickly. Contrary to the common belief, Hayes felt safely in the severe security prison, which was less unbridled because “real men did not get anything to prove it.”

Looking at the future

Hayes confirmed that he was no longer constantly angry at the time he spent in prison or in the judge who supervised his trial. During his time in prison, he became Christian, and learned to forgive. He said that his conviction, which was canceled last week, also helped to maintain “herbs” from his pent -up anger at spreading again.

“Interestingly, I felt that these herbs did not appear much since Wednesday. Certainly, I think what happened on Wednesday helps me to do so.”

Looking at the future is difficult. Although – or perhaps because of – because of the test, he did not feel free for years. He did not resolve whether he would return to funding, even when the UK’s Financial Conduct Authority dropped his life on Friday, Bloomberg I mentioned.

One of the things he knows is that he feels responsible for talking about other convicted bankers who have been sentenced to a similar charge, although he wants to live anonymous. At least four bankers are convicted that they would be convicted after the Supreme Court’s decision on the Hayes case this week. Financial times I mentioned.

Currently, though, Hayes is ready for a vacation. After a week of interviews, he enjoyed a weekend with his 13 -year -old father and son in Saint -Evz, a small coastal town in Cornwal, in southwestern England. He said in the future, he wants to live next to the sea and buy a dog.

Hayes, who was at the height of his career, focuses on a salary of millions of dollars with incentives, now on the things he used to benefit from, and said that the rest of the world should also be.

He said, “Do not take your freedom to be rejected by it. Do not take all the amazing things in your life.” “You don’t care about trying to get more things and thinking that this is a good way to measure the quality of your life, because it is not.”