Ex-HSBC Exec Tells 2nd Circ. $3.5B Forex Deal Was No Fraud
Law360, New York (May 31, 2019, 9:11 PM EDT) -- An attorney for former HSBC foreign currency exchange executive Mark Johnson on Friday asked the Second Circuit to overturn his conviction for defrauding Cairn Energy PLC in a $3.5 billion currency deal, saying it wrongly criminalizes an arm's-length transaction between two sophisticated parties.
A former HSBC executive convicted in 2017 of wire fraud and conspiracy wants a New York court to overturn his conviction for defrauding a British oil and gas company. (AP) Johnson, a U.K. national and former global head of forex spot trading for HSBC, was convicted in 2017 of wire fraud and conspiracy for front-running Cairn's dollars-for-sterling deal worth $3.5 billion...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!