US Department of Justice
On Tuesday, the U.S. Department of Justice charged three former FX-traders for Barclays, Citigroup and two other large banks as part of its probe into foreign currency market manipulation.
The former executives allegedly coordinated their trading with each other in an online chat room while working for affiliates of those banks, JPMorgan Chase & Co. and the Royal Bank of Scotland Group PLC. The four banks agreed last year to pay about $2.5 billion in U.S. criminal fines as a result of the investigation.
Former FX-Trader plead guilty
Christopher Cummins, a former FX-trader for Citigroup on Thursday, 12 January 2017 was plead guilty in the U.S. Department of Justice’s long-running investigation into foreign currency market manipulation.