In the News

London Partner David Kirk Discusses Tom Hayes’ LIBOR Verdict on BBC Radio 4

August 4, 2015

McGuireWoods partner David Kirk was invited as a featured guest on BBC Radio 4 to discuss the sentencing of former London bank trader Tom Hayes. In two August 3 interviews on BBC News and The World Tonight, Kirk addresses the unanimous jury verdict against Hayes, which landed him a 14-year sentence for attempting to fraudulently rig the London interbank offered rate (LIBOR).

“This is hugely significant both for the Serious Fraud Office and for the banking community in general,” says Kirk in quoted material. “It sends a message to the banking industry that such dishonest conduct will be punished severely.”

Hayes’ conviction is one of the harshest penalties administered in recent years, and is the first such criminal conviction of an individual banker.