Trader admits he wasn't in a very good place

Depression, Suicide

Tom Hayes told a London court Monday that he was suicidal and depressed two years ago when he admitted to prosecutors that he was behind a scheme to rig Libor rates.

Bloomberg News reports that when responding to questions from prosecutors for the first time at his London trial, the 35-year-old Hayes said that the threat of being extradited to the U.S. had left him depressed as he found himself at the centre of a global scandal. He initially told the Serious Fraud Office that he planned to plead guilty, before deciding to fight the charges in court.

'I was in survival mode', said Hayes, rubbing his eyes and covering his face. 'I was looking at a world full of bad options' and being dishonest with the SFO was 'the least worst option'.

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

Hayes Says He Was Suicidal When He Confessed to Libor Rigging

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