Tom Hayes, a former star trader serving an 11-year jail sentence for manipulating Libor interest rates, was on Wednesday ordered to pay 878,806 pounds ($1.25 million) by a judge or face further time in prison. Judge Jeremy Cooke, who sentenced Hayes in August and has held him up as an example to errant bankers worldwide, said he expected Hayes's wife to sell a seven-bedroom house to help pay the penalty aimed at clawing back proceeds from Hayes's crimes. The penalty is, however, substantially less than the 2.45 million pounds sought by Britain's Serious Fraud Office (SFO). Hayes, a 36-year-old former UBS (UBSG.S) and Citigroup ... READ MORE
