UBS: Former LIBOR Trader Tom Hayes Seeks $400 Million
Tom Hayes, a former UBS trader, has filed a $400 million lawsuit against the Swiss bank in the United States.
He accuses the bank of malicious prosecution and scapegoating him after the financial crisis, claiming UBS misled U.S. authorities and offered him to prosecutors to shield senior management.
UBS portrayed him as the "evil mastermind" behind alleged misconduct
Despite this, Hayes claims he acted with the knowledge and encouragement of superiors and in line with industry practice at the time.
- Hayes' conviction for LIBOR manipulation was overturned this year.
- UBS was among the first global banks investigated over the manipulation of interbank benchmark rates after 2008.
Author's summary: Tom Hayes sues UBS for $400 million over LIBOR scandal.
More News
- The Salvation Army kicks off 'Coats for Kids' drive with free coat distribution
- Mike Brown is quickly reaching a crushing realization Knicks fans already knew
- MLB: Last time each team won the World Series
- The ECHR: legal and political fault lines
- Reneé Rapp Is Officially Heading Down Under Next Year - Star Observer
- Write for Rights Activist Toolkit 2025
- 2026 Škoda Kodiaq: Plug-in hybrid added to popular large SUV range
- 2025 Victoria Derby Field & Betting Update: All Eyes on Observer - races.com.au
- Calendar Pick: Día de los Muertos - Flagpole
- Obituaries – Week of Oct. 27, 2025 - The Observer