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Ex-Barclays Trader Admits Conspiracy to Rig Currency Prices

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Ex-Barclays Trader Admits Conspiracy to Rig Currency Prices

Ex-Barclays Trader Admits Conspiracy to Rig Currency Prices*/

Jason Katz, a former Barclays Plc currency trader, admitted conspiring to fix prices in the foreign-exchange market, the third individual to be charged and the first to plead guilty in a long-running U.S. criminal investigation into the rigging of currency rates.Katz appeared in Manhattan federal court Wednesday, where he admitted to participating in a conspiracy with other bankers to manipulate emerging-market currency trades while working at three different financial institutions from 2007 to 2013.Separately, the Federal Reserve Board said it banned Katz from the banking industry.
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Former Barclays Trader Pleads Guilty in Currency Manipulation Conspiracy

Former Barclays Trader Pleads Guilty in Currency Manipulation Conspiracy*/

A former Barclays trader pleaded guilty on Wednesday to federal charges arising from a global investigation into the manipulation of foreign-exchange prices at major banks, the Justice Department said.Jason Katz, a former Barclays trader who later worked at BNP Paribas, pleaded guilty in Federal District Court in Manhattan to participating in a price-fixing conspiracy, becoming the first person to admit criminal wrongdoing in the inquiry.Mr. Katz’s plea came after Barclays and three other banks pleaded guilty last year to conspiring to manipulate currency prices.
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Ex-Barclays Trader Faces $1M Fine and Jail Sentence for Currency Rigging

Ex-Barclays Trader Faces $1M Fine and Jail Sentence for Currency Rigging*/

Photo: BloombergA former Barclays currency trader has admitted to conspiring to fix prices in the foreign exchange market and has pleaded guilty in an ongoing criminal investigation into the rigging of currency rates, as per a Bloomberg report.To unlock the Asian market, register now to the iFX EXPO in Hong KongJason Katz appeared in court earlier this week where he admitted to conspiring with other bankers to manipulate emerging-market currency trades while working at three different financial institutions from 2007 to 2013.The Federal Reserve Board has also banned Katz from the banking industry.
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