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USA v. Johnson et al

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Case overview

Case Number:

1:16-cr-00457

Court:

New York Eastern

Nature of Suit:

Judge:

Nicholas G. Garaufis

Firms

  1. March 20, 2018

    Feds Defend Presentence Report In Ex-HSBC Exec Forex Case

    Federal prosecutors on Monday defended a presentence investigation report following the conviction of a former HSBC executive for defrauding client Cairn Energy PLC, disputing Mark Johnson's objections and definitively saying Cairn suffered a loss after a billion-dollar currency exchange.

  2. October 26, 2017

    Ex-HSBC Trader Rips Ruling Forcing Him To Stand Trial In US

    Former HSBC foreign exchange trader Stuart Scott said Thursday he will appeal a London judge's ruling ordering him to face charges in New York alleging he and a colleague defrauded bank client Cairn Energy PLC by trading ahead of a $3.5 billion foreign currency exchange the Scottish oil and gas developer planned.

  3. October 23, 2017

    HSBC Executive Convicted Of Forex Fraud

    A Brooklyn federal jury on Monday convicted former HSBC executive Mark Johnson of defrauding bank client Cairn Energy PLC by scheming to trade ahead of a $3.5 billion foreign currency exchange the Scottish oil and gas developer planned and ramping up the price of British pounds sterling.

  4. October 19, 2017

    Ex-HSBC Exec's Trial Over $3.5B Forex Deal In Jury's Hands

    Jury deliberations began Thursday in the trial of ex-HSBC foreign exchange executive Mark Johnson over claims he defrauded Scottish oil and gas developer Cairn Energy PLC via a $3.5 billion forex deal, with questions about Johnson's and a cooperating witness' testimony coming up late in the day.

  5. October 18, 2017

    Ex-HSBC Forex Exec Gets 'F-Minus In Fraud,' Jury Hears

    In a closing argument that lasted 5 1/2 hours, counsel for former former HSBC foreign currency exchange executive Mark Johnson told a Brooklyn federal jury Wednesday that Johnson, despite defrauding Cairn Energy through a $3.5 billion forex deal, is a good man, an innocent man incapable of committing fraud and, for good measure, there was no fraud.

  6. October 17, 2017

    Feds Say Recorded Calls Prove Ex-HSBC Forex Exec's Guilt

    The U.S. Department of Justice gave closing arguments Tuesday in the trial of former HSBC foreign currency exchange executive Mark Johnson, asking a jury in Brooklyn why, if Johnson is not guilty of defrauding Cairn Energy through a $3.5 billion forex deal, is he talking on the phone like a guilty man.

  7. October 16, 2017

    Ex-HSBC Exec Denies Involvement In Forex Fraud Conspiracy

    Former HSBC foreign currency exchange executive Mark Johnson on Monday denied being part of a conspiracy to defraud HSBC client Cairn Energy PLC by ramping up the price for British pounds sterling ahead of a $3.5 billion forex deal.

  8. October 12, 2017

    Ex-HSBC Exec Defends Actions Over $3.5B Forex Deal

    A former HSBC foreign currency exchange executive took the witness stand in his own defense for a second day on Thursday in Brooklyn federal court, giving jurors his own version of events surrounding a $3.5 billion forex deal for oil and gas developer Cairn Energy PLC that prosecutors claim was fraudulent.

  9. October 11, 2017

    Ex-HSBC Exec Tells Jury $3.5B Forex Deal Was Aboveboard

    A former HSBC foreign exchange executive took the witness stand Wednesday at his trial over claims that he used a $3.5 billion forex transaction to enrich the bank at the expense of Scottish oil and gas developer Cairn Energy PLC, telling a New York federal jury that there was nothing improper about the execution of the deal.

  10. October 10, 2017

    'Pre-Hedging' Is Standard Practice, HSBC Forex Jury Hears

    The former head of foreign exchange trading for Deutsche Bank told the New York federal jury weighing the criminal case against an ex-HSBC executive Tuesday that "pre-hedging," or making some of a large currency purchase in advance, is a standard practice that can be beneficial to the buyer because it keeps the price down.

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