HSBC Forex head arrested in New York; first person to be charged in DoJ’s FX probes

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.

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