Jailed Libor trader Hayes ordered to hand over 878,806 pounds

[March 23, 2016]  LONDON (Reuters) - Tom Hayes, the former star trader serving an 11-year jail sentence for manipulating Libor interest rates, was on Wednesday ordered to hand over 878,806 pounds ($1.25 million) that were deemed proceeds of crime by a London judge.

Hayes, a 36-year-old former UBS and Citigroup <C.N> derivatives trader, was held up as an example to errant bankers when he was convicted last August of masterminding a conspiracy to distort Libor, the London interbank offered rate, to suit his trading book.

(Reporting By Kirstin Ridley, editing by Carolyn Cohn)

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