Trader wrongly jailed for rate-rigging may sue for millions
Tom Hayes, who served five and a half years in prison for fraud, said he would seek legal advice on bringing civil claims after his 2015 conviction was overturned on Wednesday. Possible targets of legal action could include the banks that employed him before he was arrested.
Mr Hayes said: 'Whether I have any civil claims against any parties is yet to be determined. I'm not ruling it out, but I don't have sufficient information yet. I need to take advice.
'I can't at this moment in time know what I'm going to do. All I would say is that everyone in the US who had their convictions overturned, almost to a man, sued their former employer banks and reached settlements.'
Karen Todner, Mr Hayes's lawyer, said he was investigating whether to bring a possible claim against various authorities. She said there was a high probability he would launch a claim.
Lawyers said Mr Hayes could potentially win millions in compensation from various parties involved in the case, including the Serious Fraud Office (SFO), which prosecuted him, and his ex-employers, based on loss of earnings.
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