‘Rain Man’ city trader Tom Hayes is cleared

A City trader known as ‘Rain Man’ who was jailed for 11 years for manipulating interest rates saw his conviction quashed by the Supreme Court after a decade-long battle to clear his name. Tom Hayes, 45, was the first banker to be convicted of fraud over the Libor interest rate-rigging scandal in 2015. He was said to be part of a global operation to make vast profits from fixing the London Interbank Offered Rate – the bank’s average interest rate….