Tom Hayes' crowdfunding campaign breaks £30,000 mark

Hayley Kirton
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The campaign had been stalled around the £25,000 mark for some time (Source: Getty)

The crowdfunding campaign to raise money for Tom Hayes' legal fees has broken the £30,000 barrier.

The Fundrazr campaign, which has been set up to support the former UBS and Citigroup traders' appeal to the Criminal Cases Review Commission (CCRC), has now raised £30,705, or 20 per cent, of its £150,000 target.

The campaign had been stalled around the £25,000 mark for some time, but was pushed over the line by a £4,000 anonymous donation two days ago.

Hayes became the first person to be found guilty of Libor-rigging offences as part of the Serious Fraud Office's investigation last August and is currently serving an 11-year sentence.

After having his sentence reduced from 14 years by the Court of Appeal last December, Hayes was blocked from appealing to the Supreme Court in March and now intends to take his case to the CCRC, an independent body which considers whether failed appeals should be reconsidered.

Also in March, Hayes was ordered to pay £878,806 under a confiscation order, and, during the confiscation hearing, the former trader told the court how he had lost nearly everything in unsuccessful trades in a bid to raise his initial legal fees.