Former foreign exchange traders for three mega-banks are set to face a jury Oct. 9 on charges they used an online chatroom to manipulate prices in the dollar/euro spot markets between 2010 and 2012.
Criminal antitrust trials are rare. Of the 27 individuals criminally charged for antitrust crimes in fiscal 2017, only these three defendants will go to trial. The remaining defendants either pleaded guilty or have not been extradited to the U.S. to face the charges.
The case, brought in January 2017 by the Justice Department against JP Morgan Chase & Co.'s Richard Usher, Citigroup Inc.’s Rohan Ramchandani, and ...
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