Tom Hayes eyes Supreme Court battle after his Libor ruling conviction is upheld

Jessica Morris
Follow Jessica
Hayes was originally found guilty back in August (Source: Getty)

Tom Hayes is considering taking his appeal to the Supreme Court, after his conviction for Libor Rigging was upheld yesterday.

While the judges rejected Hayes' appeal he has said he now intends to pursue "every avenue available to clear my name", a path which could take him to the Supreme Court.

"I lost a battle to have my conviction in relation to Libor overturned," he said in a statement today.

"Whilst I am immensely disappointed with this result, I am relieved and grateful that the extremely long sentence imposed on me has been reduced."

Read more: 14 years for City Libor-fixer

Hayes was found guilty of on eight charges of conspiracy to defraud in August for his role in the rate-rigging scandal. But his 14 year prison sentence was cut to 11 years but the Court of Appeal yesterday.

The reduced sentence reflected the fact he did not hold a managerial position at the two banks he worked for and his mild Asperger’s syndrome. Hayes had been diagnosed with the condition shortly before his 10-week trail began in May.

Prosecutors had alleged that Hayes masterminded a four-year scam with others to fix the London interbank offered rate, which serves as a benchmark for other rates.

But the defence said that there were legal errors in the way the case was originally handled, and the sentence was wrong in principle and excessive.

Related articles