Singapore Forex Traders Admit Cheating On Deutsche Bank, HSBC

[kreslik.news]

Two former currency traders from Deutsche Bank and HSBC Holdings who were charged in Singapore earlier this month for allegedly cheating their employers by making false trades have admitted their wrongdoings, as per a Bloomberg report.

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Former Deutsche Bank trader Toh Hway Khuan and HSBC senior dealer Ivan Chng have pleaded guilty in separate hearings today. Both have admitted to using their banks’ accounts in 2009 to get preferential rates on the dollar. The cases are unrelated.

Unlawful Earnings

Chng was charged in 2015 with 149 counts of ... (read more)