In 2015, Tom Hayes was convicted of eight charges of conspiracy to defraud and sentenced to 14 years’ imprisonment. The crimes of which he was convicted arose from alleged manipulation of the London Interbank Offered Rate (LIBOR). While his sentence was reduced to 11 years’, his appeal against conviction was refused.
In 2017, Mr Hayes submitted an application to the CCRC. Four years later, in December 2021, the CCRC gave its provisional decision refusing to refer the case back to the Court of Appeal.
In early 2022, Adrian Darbishire KC and Tom Doble were instructed (by Karen Todner of Karen Todner Limited) to make further representations to the CCRC, in order to persuade the CCRC to change its provisional decision.
Today, the CCRC have announced that Mr Hayes’ case will be referred to the Court of Appeal. This is a significant decision, not just for Mr Hayes personally, but for all of the other individuals convicted of such IBOR manipulation offences in this jurisdiction.