Tom Hayes, a former derivatives trader for UBS and Citigroup, was the first individual prosecuted by the UK Serious Fraud Office who was found guilty by a jury of multiple counts of conspiracy to defraud in connection with his alleged role into the manipulation of the London interbank offered rate (LIBOR). Mr. Hayes’ violative conduct allegedly occurred from August 2006 through September 2010. Mr. Hayes was also sentenced to 14-years imprisonment.