Ex-HSBC currency trader convicted of fraud for front-running US$3.5B exchange order
First to be tried on charges of manipulating pound in advance of client's forex conversion
Former HSBC Holdings PLC currency trader Mark Johnson was found guilty of fraud for front-running a US$3.5 billion client order, a victory for U.S. prosecutors as they seek to root out misconduct in global financial markets.
He was convicted on Monday of nine out of 10 fraud and conspiracy counts after a month-long trial in Brooklyn, N.Y. -- More...