Bank Forex executive Mark Johnson, HSBC’s global head of foreign exchange cash trading in London has reportedly been arrested at New York’s John F. Kennedy airport, charged with front-running customer orders.
According to press reports, Mr. Johnson has become the first person to be charged in the Justice Department’s three-year probe into forex rigging at global banks.
He is scheduled to appear before a judge in federal court in Brooklyn on Wednesday morning, charged with conspiracy to commit wire fraud, Bloomberg reported.
Back in November 2014, HSBC paid $618m to settle allegations that it had rigged the foreign exchange market around the 4PM benchmark fix.