Ex-jailed UBS / Citi trader returns to court over assets

Gavel

Tom Hayes, a former trader serving an 11-year jail sentence for conspiracy to rig Libor interest rates, will next week return to a London court in a multi-million pound battle against prosecutors over assets that include a seven-bedroom country house.

Reuters reports that Hayes and his corporate lawyer wife Sarah are both expected to give evidence to try to prevent the seizure of their entire estate, which prosecutors value at $5.4m, including Sarah's jewellery, and which they allege has been paid for with proceeds of crime.

Five days of hearings begin on Monday and are expected to focus on the couple's former home in Surrey, southern England, which they bought in 2011 and began to renovate before the Serious Fraud Office (SFO) launched criminal proceedings.

To access the complete Reuters article hit the link below:

Jailed Libor trader to return to London court in battle over assets

Review urges improvements in how Britons get financial advice

JefferiesAnd the Best Place to Work in the global financial markets 2016 is...

Register for Financial Markets News Alerts