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First City trader convicted over Libor is jailed for 14 years

A City trader from Hampshire has become the first person to be convicted by a jury of rigging Libor rates in a scandal that shook financial markets.

Tom Hayes, 35, was the "ringmaster" in an enormous fraud to manipulate the benchmark interest rates. Today he was jailed for 14 years.

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City trader jailed for 14 years for rigging Libor rate

A city trader has been jailed for 14 years for his involvement in rigging interest rates.

Tom Hayes is the first to be found guilty of manipulating the Libor rate, an international interest rate benchmark.

ITV News' Rebecca Barry reports from Southwark crown Court:

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