Investors Request UK Depo Of Ex-Trader In Rigging Suit
Law360 (April 11, 2019, 5:52 PM EDT) -- Investors accusing several big banks of rigging the foreign exchange market asked a New York federal judge Wednesday for help arranging the overseas deposition of a London-based former trader involved in the scheme who previously testified against fellow traders in a federal forex-rigging trial.
The alleged conspiracy to manipulate rates took place in an online chat room called "The Cartel" between traders at Citicorp, JP Morgan Chase & Co., Barclays PLC, Royal Bank of Scotland PLC and UBS AG. Four of the banks pled guilty to criminal antitrust violations over their traders' collusion in 2015.
Matthew Gardiner, an ex-trader for defendants...
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