The first convicted person in the LIBOR case sued UBS for $400 million.

The first banker sentenced to prison for participating in the manipulation of the LIBOR interbank rate has filed a lawsuit against the Swiss bank UBS in the amount of $400 million. This was reported on October 27 by The Guardian newspaper.

We are talking about former trader Tom Hayes, who claims that he became a "scapegoat", and UBS deliberately shifted responsibility to him in order to avoid billions in fines and preserve the reputation of management.

"It took me more than ten years to overturn my wrongful conviction and clear my name. UBS has ruined my life, my reputation and my career," Hayes said.

The lawsuit was filed in a U.S. court in Connecticut. It claims that the bank misled the American authorities by calling Hayes the "evil mastermind" of the rate-fixing scandal. Hayes himself spent 5.5 years in prison out of the 11 assigned and insists that he participated in a practice widespread in the industry.

Earlier, in July, the UK Supreme Court overturned the conviction, finding that the jury had been misled and Hayes had not received a fair trial.

Gone to the break: Trump cuts funding to Democratic states

In the US Congress, it is not possible to overcome differences between the parties

Earlier, on September 30, it was reported that the threat of a new shutdown in the United States would increase the risks of a weakening dollar. Analysts note that during the previous government suspensions, the dollar was declining, and volatility in the foreign exchange markets was increasing.

All important news is on the Izvestia channel in the MAX messenger.