A UK financial trader dubbed the ringleader of an interest rate manipulation scandal loses an appeal

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A British financial trader described as the ringleader in the manipulation of a key interest rate before and after the global financial crisis has lost his appeal to have his conviction quashed.

Financial market trader Tom Hayes speaks to the media, with his lawyer Karen Todner, right, outside the Royal Courts Of Justice in London after two former financial market traders convicted of interest rate benchmark manipulation have had bids to clear their names rejected by the Court of Appeal, on Wednesday March 27, 2024.

The referral of the two cases came in the wake of a U.S. court decision in 2022, which overturned similar convictions of two former Deutsche Bank traders. “No one is above the law and the court has recognized that these convictions stand firm," it said in a statement. “I’m a fighter, not a quitter," he said, adding that his case is “not consistent” with laws in France, Germany and the U.S.

 

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