Give Libor trader Hayes a retrial, urges peer

A TOP Tory peer has urged the UK’s highest court to pave the way for a retrial of convicted libor trader Tom Hayes after several of his alleged co-conspirators were found innocent this year.

The former UBS trader became the first person to be found guilty of fiddling libor and was sentenced to 14 years in prison, reduced to 11. Six brokers accused of helping Hayes were cleared in January.

“We have to resolve this in some possible way but surely we can ask the Supreme Court to consider re-introducing a proper appeal process or a retrial, either of which will return us to some form of justice,” Lord James said

The Court of Appeal ruled in March that Hayes could not ask the Supreme Court to hear the case. Lord James said it could also be passed to the Criminal Cases Review Commission.