FX ‘Cartel’ Traders Said to Face U.S. Rigging Charges
- Justice Department said poised to file cases in criminal probe
- Online ‘Cartel’ chatroom is at center of 2015 bank charges
U.S. Prosecutors Charge Three Traders on FX Rigging
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Prosecutors are poised to charge the currency traders at the heart of one of the biggest U.S. market-rigging investigations, according to people familiar with the matter.
The imminent criminal charges are against members of ‘The Cartel’ chat group, the people said. These traders used instant messages to coordinate the rigging of foreign-exchange benchmarks by sharing confidential customer information, prosecutors have said in antitrust cases that led to guilty pleas by five banks in 2015.