5 days ago
Tom Hayes verdict is yet another blow to the Serious Fraud Office
The conviction of Tom Hayes for rate rigging in 2015 came at a crunch moment for the Serious Fraud Office.
Reeling from a string of blunders in the years before Hayes's trial, the successful prosecution of the former trader was a much-needed win for the agency at a time when its very existence was in doubt and it was also arguably the most significant result for the agency's then director, Sir David Green KC.
By the same token, the quashing of Hayes's conviction on Wednesday by the Supreme Court also comes at a difficult moment for the crime-fighting body.
In the decade since Hayes was sent to prison, the SFO's reputation has been marred by another series of setbacks that have once again led to questions about the future of the agency.
