Ex-HSBC Trader Calls U.S. Too ‘Aggressive’ in Front-Running Case
- Scott fights extradition to face charges he rigged FX markets
- Hearing starts as co-defendant’s case nears jury deliberations
Stuart Scott arrives at Westminster Magistrates' Court in London on Oct. 16, 2017.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
HSBC Holdings Plc’s former head of currency trading in London made at least $500,000 in commissions by front-running a multi-billion-dollar deal that betrayed the bank’s duty to its client, according to U.S. prosecutors.
The allegations, made in court documents handed out at the start of a two-day hearing Monday, form part of the U.S. government’s petition to extradite Stuart Scott to face charges he rigged foreign-exchange markets. Scott is fighting the request, claiming American prosecutors are targeting conduct that didn’t happen or hurt anyone in the U.S.