20th Jul 2016 14:46
LONDON (Alliance News) - A senior HSBC Holdings PLC executive has been arrested in New York for alleged fraud involving currency trading, according to a report from Bloomberg on Wednesday, citing three people familiar with the matter.
Mark Johnson, HSBC's global head of foreign exchange cash trading in London, was arrested at John F Kennedy International airport Tuesday, according to the report.
Johnson is the first individual to be charged in the Justice Department's three-year investigation into foreign exchange rigging, and is due to appear before a judge in federal court in Brooklyn Wednesday morning, Bloomberg reported.
Stuart Scott, HSBC's head of foreign exchange cash trading for Europe, also was accused in the complaint.
http://www.bloomberg.com/news/articles/2016-07-20/hsbc-official-said-to-be-charged-by-u-s-in-fx-rigging-probe
A spokesperson for HSBC declined to comment on the Bloomberg report to Alliance News.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2016 Alliance News Limited. All Rights Reserved.
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