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‘I was framed by UBS’: Tom Hayes’ letters from prison

Incarcerated former trader blames himself for trusting colleagues and superiors, laments his inability to push his side of the scandal in the press during the trial

‘I was framed by UBS’: Tom Hayes’ letters from prison

Tom Hayes has many regrets. Manipulating Libor is not one of them.

In a two-month epistolary correspondence with Financial News, Hayes, who is serving an 11-year sentence in a Nottinghamshire prison for his role in the Libor scandal, blames himself for trusting colleagues and superiors, laments his inability to push his side of the scandal in the press during the trial, and even claims he was “framed” by UBS, a charge his former employer declined to comment on.

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