Forex Trader Tells NY Jury 'Immature' Chats Aren't Criminal

Law360, New York (October 31, 2019, 5:13 PM EDT) -- The federal government's foreign currency price-fixing case against onetime JPMorgan trader Akshay Aiyer is based on cherry-picked, “immature” chats that are embarrassing but not criminal, his lawyer told a Manhattan jury Thursday, calling prosecutors' theory of criminality “simplistic.”

Aiyer, who is charged with a count of conspiring to restrain trade in forex markets in violation of the Sherman Act, made his pitch for a not guilty verdict during afternoon opening statements at a trial before U.S. District Judge John G. Koeltl that's expected to last about four weeks.

Prosecutors say Aiyer schemed with other traders including two cooperating witnesses — Jason...

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!

TRY LAW360 FREE FOR SEVEN DAYS