Convicted Libor trader could lose home

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Tom Hayes, the former star trader jailed for market rigging, could lose his home after being ordered to repay almost £880,000 ($1.2m), deemed to be the proceeds of the crime.

BBC News reports that the judge indicated that the confiscation order could force Hayes to sell his family's home.

The Serious Fraud Office had targeted more than £2m ($2.8m) of his assets, but described the order as "substantial".

Last year Hayes was jailed for 11 years for manipulating the Libor rate.

He was convicted an eight counts of conspiracy to defraud while working for UBS and Citigroup during the period between 2006 and 2010.

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

Jailed Libor trader Tom Hayes could lose his home

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