Tom Hayes in the Clinker for 14 years

A former city trader by profession, Tom Hayes has been sentenced for 14 years.

Tom HayesSource

This sentencing is the first one for the case of LIBOR scandal. The LIBOR scandal took place in 2012 in London where banks purposely inflated and deflated their trades which resulted in the fluctuation of Libor.

Many banks have taken responsible for the this scandal, but, this is the first major step taken by the court in this case.