Ex-Barclays Currency Trader Cops To Forex Conspiracy

Law360, New York (January 4, 2017, 8:31 PM EST) -- A former currency trader for Barclays PLC on Wednesday became the first person to plead guilty in the long-running global investigation of price-fixing on the foreign currency exchange market, according to the U.S. Department of Justice.

Jason Katz, formerly of BNP Paribas PLC, appeared in Manhattan federal court and copped to his role in a conspiracy with other forex traders to suppress competition by fixing prices for currencies in Central and Eastern Europe, the Middle East and Africa.

Prosecutors say Katz and others manipulated currency prices...
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