Former UBS trader turns to crowdfunding for new appeal

Tom Hayes plans to bring his case to the Criminal Cases Review Commission and obtain a review of the Court of Appeal's ruling

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Tom Hayes, the former UBS and Citigroup trader serving 11 years in prison for rigging the London Interbank Offered Rate (Libor), has begun crowdfunding to raise money for a new appeal.

The campaign, which aims to raise £150,000 ($217,195) to cover the legal fees of a second trial, has received just over £3,000 ($4,350) in the first four days.

In March, a London court ruled the former trader must pay £880,000 ($1,280,600) or face a further three years in prison.

Hayes plans to bring his case

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