UK’s FX ‘Cartel’ to Stand Trial in US – Bail Set at Upwards of $1M

[kreslik.news]

US regulatory authorities have spent the last four years sharpening their teeth amidst a litany of trading scandals, market manipulations, and other forms of abuse. This week, three former UK currency traders step into the lion’s den so to speak, to stand trial for allegations and charges of market manipulation dating back to 2013.

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The focus of the investigation is ‘The Cartel’, which had been exposed as individuals sharing sensitive information regarding currency markets in an electronic chatroom. Today’s trial will include former JPMorgan Chase & Co. trader Richard Usher, ... (read more)