Tom Hayes was sentenced to 14 years in prison, later reduced to 11 years, for his role in the scandal. Guillaume Adolph, who was nicknamed “Gollum”, had been identified as a co-conspirator of Tom Hayes. Hayes was a UBS and Citigroup trader and in August 2015 he became the first banker to be jailed for manipulating Libor, the London interbank offered lending rate. The Financial Conduct Authority is expected to announce a fine of £180,000 against Mr Adolph today, finding that his conduct was reckless but not dishonest. During Hayes’ trial, communications between him and Mr…

Source: The Times March 05, 2018 00:05 UTC