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Foreign exchange manipulation of the first case, the sudden emergence of HSBC executives refused to -www.imust.cn

"Individual currencies manipulation" first case of suspense suddenly HSBC executives pleaded not guilty to U.S. stock market center: exclusive national industry sector stocks, premarket after hours, ETF, real-time quotes warrants FX168 financial newspaper (Hongkong) –   HSBC Holdings (HSBC) a executives last month by the United States federal regulators on suspicion of accident foreign currency trading fraud was arrested, became the first person to be convicted in the investigation of the. But now, as the executives refused to plead guilty, this one of the first case of individual manipulation of the exchange market has become a sudden suspense. British citizens Mark Johnson on Monday (August 29th) to participate in fraud allegations refused to plead guilty. He was accused of trading in a client’s $3 billion 500 million foreign exchange transaction (front-running). Johnson’s plea for communications fraud and conspiracy charges was filed in the federal court of by his lawyer, Frank Wohl. He was arrested last month as the global head of HSBC’s foreign currency trading. Insiders pointed out at the time, which marks the U.S. Department of justice for international investment banks to manipulate the exchange rate benchmark for up to three years of investigation into a new stage. (photo: Leaprate) lawyer Frank Wohl said after the hearing: he pleaded not guilty, because he was not guilty, he did not do anything wrong." Johnson and HSBC in Europe, the Middle East and Africa deal before director Stuart Scott, is the first batch of people because the bank currency manipulation investigation face American criminal charges. The survey last year led to the four international bank pleaded guilty to conspiracy to manipulate the exchange rate. Although HSBC is not in the four banks, but in 2014 agreed to pay $618 million settlement of the United States and the United Kingdom regulators related investigations. (source: Leaprate) the United States Department of Justice investigation continued, while HSBC has a provision of $1 billion 200 million to cover the cost of foreign exchange related investigations. U.S. prosecutors said that Johnson and Scott misuse of information provided by a customer in 2011. The client hired HSBC to convert $3 billion 500 million into pounds, which is associated with the sale of a foreign subsidiary. Prosecutors said the defendant then use their own insider information, prior to the transaction before the customer transactions, resulting in the pound exchange rate rose, thereby harming the interests of the customer. Court documents did not mention the name of the customer, but sources said that the client is the British Petroleum Company Cairn Energy. Prosecutors pointed out that the total profit of $3 million from the first trading of its currency traders in the market, through the implementation of customer transactions profit $5 million. Prosecutor Melissa Aoyagi said in court on Monday that the Justice Department is working with Johnson’s lawyers "to discuss". She didn’t elaborate on it. Aoyagi also said that prosecutors are transferred to the defenders a lot of evidence. HSBC said on Monday, 1相关的主题文章: