‘The father of the banker jailed for 14 years for fixing the Libor rate has claimed his son is a ‘scapegoat’.

Tom Hayes became the first man jailed over the banking scandal this week after he was found guilty of conspiring to fix rates for profit.

But Hayes’s father, Nick, has hit out at the ‘disproportionate’ sentence his son was given while no banks have been prosecuted.’

Read more: Libor fixer Tom Hayes’ father says his son is a ‘scapegoat’ who has been ‘hung out to dry’ by banking bosses