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.
He has maintained his innocence throughout, as has former Barclays trader Carlo Palombo, 45, whose case regarding the manipulation of Euribor, the euro currency zone’s equivalent to LIBOR, was also referred to the U.K.’s Court of Appeal by the Criminal Cases Review Commission, which investigates potential miscarriages of justice. Palombo had denied acting dishonestly, but was jailed for four years in April 2019 after a retrial.
“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.