Ex-HSBC FX Trader Sentenced to 2 Years, Sent Directly to Prison
- Mark Johnson was convicted of front-running $3.5 billion order
- Prosecution came after global banks paid more than $10 billion
Mark Johnson arrives at federal court in Brooklyn, New York, on April 26.
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
Former HSBC Holdings Plc trader Mark Johnson, the first person to be convicted in a global crackdown on currency rigging, was sentenced to two years in prison and immediately taken into custody.
Johnson bowed his head and his lawyers appeared stunned as U.S. District Judge Nicholas Garaufis in Brooklyn, New York, rejected his request to surrender at a later date. Johnson then handed his wallet to the lawyers and removed his tie before being escorted out of the courtroom by a deputy U.S. marshal. His lawyers asked that he be sent to the low-security federal prison in Allenwood, Pennsylvania.