Ex-Barclays Trader Faces $1M Fine and Jail Sentence for Currency Rigging
Posted: Thu Jan 05, 2017 7:17 am
A former Barclays currency trader has admitted to conspiring to fix prices in the foreign exchange market and has pleaded guilty in an ongoing criminal investigation into the rigging of currency rates, as per a Bloomberg report.
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Jason Katz appeared in court earlier this week where he admitted to conspiring with other bankers to manipulate emerging-market currency trades while working at three different financial institutions from 2007 to 2013. The Federal Reserve Board has also banned Katz from the banking industry.
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Conspiracies such as this undermine the integrity ... (read more)