Supporters of Former UBS trader Tom Hayes Look to Raise £150,000 on Fundrazr For New Appeal

Supporters of Tom Hayes, a former UBS Group AG trader serving 11 years in prison for rigging Libor, are looking to raise £150,000 ($218,000) on crowdfunding platform Fundrazr for a new appeal.

Hayes, who was diagnosed with Asperger’s syndrome last year, was arrested in December 2012 following a raid that was conducted by UK authorities and labeled the first individual convicted at trial in the London interbank offered rate scandal. During the trial, he was sentenced to 14 years, which was later reduced to 11 years. Last December, he lost an appeal to have his conviction overturned.

The supporters shared:

“In March 2016, the same court issued an order meaning that Tom and his family have to sell almost everything they own, including the family home and Tom and his wife’s wedding rings, to pay the UK Government nearly £900,000.00 as the ‘proceeds of crime’ or else Tom will have to serve even more time in prison.”

They also revealed that Tom’s family currently have fresh evidence that will clear his name. Hayes’ lawyer, Karen Todner, revealed to Bloomberg: 

“Tom’s family are now in possession of fresh evidence, some of which Tom requested in his trial but which UBS and the prosecution did not supply. We believe Tom has a strong case, which our submission to the CCRC will demonstrate.”

Hayes’ supporters plan to refer his case to the Criminal Cases Review Commission, an independent organization set up to investigate suspected miscarriages of justice in U.K., next month. They noted:

“Because Tom has already appealed his conviction and sentence, the Criminal Cases Review Commission (CCRC), a body set up to investigate miscarriages of justice, is now Tom’s only hope of achieving justice. The CCRC has investigatory powers of its own and could potentially really help Tom. Tom will need the CCRC to investigate what has gone wrong with his prosecution and why.”

All items that the funds will go towards are:

• Reviewing the fresh evidence and new lines of legal argument;
• Drafting an application to the CCRC on the basis of the above;
• If the CCRC accepts Hayes’ case for investigation, liaising with the CCRC and its lawyers throughout the investigation process; and, hopefully,
• Representing Tom in a new appeal before the Court of Appeal.

Within the past four days, Hayes’ initiative has secured over £3,000 from nearly 30 contributors.