Trader sheds tears at trial

Pulling Hair

Things became increasingly emotional.

Former UBS trader Tom Hayes broke down in tears on the witness stand last week as he explained that he didn’t think he’d done anything wrong.

Bloomberg News reports that Hayes, who is charged with conspiring to manipulate Libor, became increasingly emotional after his lawyer asked him to explain why he had characterized his behaviour as 'dishonest' in a 2013 interview with prosecutors.

Hayes said he felt compelled to exaggerate his role in order to be charged in the U.K. and avoid extradition to the U.S.

'I’m trying to give the answer I needed to give', Hayes said with his wife and family looking on from the public gallery of the London courtroom. I wanted to say 'I don’t think I’ve done anything' wrong.

To access the complete Bloomberg News article hit the link below:

Hayes Breaks Down in Tears: I Haven’t ‘Done Anything’ Wrong

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