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LIBOR rigger has sentence reduced

Back in August LIBOR scapegoat rigger Tom Hayes was sentenced to 14 years

His sentence has been reduced to 11 years

Said the judges who reduced the sentence:

  • "We are of the view that taking into account all the circumstances -- in particular his age, his non-managerial position in the two banks, and his mild Asperger's condition -- that the overall sentence was longer than was necessary to punish the appellant and to deter others"

I still haven't heard about any convictions for any of those who benefitted from Hayes' illegal actions: his managers, their managers, other executives on the teat, UBS and Citi shareholders, and on and on. Nope, Hayes is the sole scapegoat conviction so far.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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