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Ex-HSBC Currency Trader Convicted of Fraud for Front-Running

  • U.S. says Johnson took advantage of $3.5 billion client order
  • Defense lawyer says Brooklyn jury ‘convicted an innocent man’
Mark Johnson in New York on Sept. 18.

Mark Johnson in New York on Sept. 18.

Photographer: Mark Kauzlarich/Bloomberg
Updated on

Former HSBC Holdings Plc currency trader Mark Johnson was found guilty of fraud for front-running a $3.5 billion client order, a victory for U.S. prosecutors as they seek to root out misconduct in global financial markets.

He was convicted on Monday on nine of 10 fraud and conspiracy counts after a month-long trial in Brooklyn, New York.