The Daily Telegraph reports that the former UBS and Citigroup trader is looking to the Criminal Cases Review Commission (CCRC), which looks into cases of miscarriages of justice. The CCRC has the power to refer cases to the Court of Appeal, giving Hayes another chance to fight his conviction.
The 36-year-old was found guilty in August last year of conspiracy to defraud by trying to manipulate Libor, the key interest rate benchmark. The trader was initially sentenced to 14 years in prison, which was reduced to 11 years on appeal.
But he is now understood to be considering further action after six former brokers, who had been accused of taking part in the conspiracy with him, were acquitted last month.
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