Jury finds ex-HSBC executive guilty of fraud in $3.5 billion currency trade

Section:

By Brendan Pierson
Reuters
Monday, October 23, 2017

NEW YORK -- A U.S. jury today found a former HSBC Holdings executive guilty of defrauding Cairn Energy Plc in a $3.5 billion currency trade in 2011.

U.S. prosecutors have said that Mark Johnson, formerly head of HSBC's global foreign exchange cash trading desk, schemed to ramp up the price of British pounds before executing a trade for Cairn, making millions for HSBC at Cairn's expense. ...

... For the remainder of the report:

https://www.reuters.com/article/us-hsbc-usa-crime/u-s-jury-finds-ex-hsbc...



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