Desperate trader under pressure said to lose it all

Pulling Hair

Sick to the stomach.

A few weeks after Tom Hayes was arrested for rigging Libor in 2012, his wife returned to their home outside London to find him at the kitchen table nervously pulling his hair out. Earlier that day Hayes had been questioned by prosecutors about how he worked with traders and brokers to manipulate the trillion-dollar benchmark.

Bloomberg News reports that when the session finished, Hayes went home and logged onto his spread-betting account. Since his dismissal from Citigroup in 2010, the self-confessed trading obsessive spent most of his time gambling with the couple’s own funds.For

“I said: ‘How are you?’ and he replied: ‘not good,”’ Sarah Tighe told a London court Thursday. "Then he said: ‘It’s gone.’ I said: ‘What’s gone?’ and he said: ‘Everything.”’ Prosecutors say he had lost nearly 1 million pounds ($1.4 million).

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

How Tom Hayes Lost a Million Spread-Betting After His Firing

Here's What Big Bank CEOs Have Made Since the Financial Crisis

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

Register for Financial Markets News Alerts