Two HSBC bankers arrested in currency-rigging probe
Mark Johnson, the bank's global head of foreign-exchange cash trading, was arrested at JFK International Airport, according to multiple reports. He faces charges following a three-year investigation into currency trading practices at multiple global banks.
In addition, Stuart Scott, the former head of the bank's Europe desk, also faces wire fraud conspiracy charges, according to the New York Times.
The Times reported that Johnson and Scott made a $3 million profit on the trade in question, which apparently involved an oil and gas company that wanted to exchange U.S. dollars with British pounds. ■