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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. October 06, 2017

    HSBC FX Exec Said 'I Think We Got Away With It,' Jury Hears

    Jurors in the trial of former HSBC foreign currency exchange executive Mark Johnson on Friday heard nearly 20 recorded phone calls surrounding a $3.5 billion forex deal that prosecutors say defrauded oil and gas developer Cairn Energy PLC, with Johnson saying at one point, "I think we got away with it."

  2. October 05, 2017

    Expert Tells Of HSBC Trading Frenzy Around $3.5B Forex Deal

    A foreign currency exchange expert on Thursday told a Brooklyn federal jury of how HSBC traders on both sides of the Atlantic swarmed to trade ahead of a $3.5 billion currency trade the bank executed for Cairn Energy PLC, making millions of dollars for the bank to the detriment of the oil and gas developer.

  3. October 04, 2017

    HSBC Trader Dishes On Forex Collusion At Exec's Fraud Trial

    A former HSBC Bank PLC foreign currency exchange trader gave a detailed account on Wednesday of the collusion between banks that antitrust prosecutors claim was used to rig currency markets, as the government's case in the trial of former HSBC executive Mark Johnson nears its end.

  4. October 03, 2017

    Cairn Exec Says He Didn't Suspect HSBC Tanked $3.5B Deal

    An executive for Cairn Energy PLC told a Brooklyn federal jury Tuesday that he didn't suspect HSBC traders were lying to him when they said a Russian bank's trading had caused the Scottish oil and gas developer's $3.5 billion foreign exchange transaction to go south and noted that Cairn took legal action only after a top HSBC trader was arrested.

  5. October 02, 2017

    HSBC Exec Admits Role In Russian Forex Buyer Tale

    The HSBC executive testifying Monday against a top foreign exchange trader peddled the story to Cairn Energy PLC that a Russian buyer was pounding the dollars for sterling exchange market, leading to a price spike that Brooklyn federal prosecutors said was caused by illegal front-running.

  6. September 27, 2017

    Cooperator Draws A Blank On Details In HSBC Forex Trial

    An HSBC banker-turned-cooperator in the trial of a former HSBC executive spent Wednesday getting grilled on cross-examination, repeatedly saying he didn't remember much about the run-up to a $3.5 billion exchange deal that prosecutors say was used to fraudulently enrich HSBC at the expense of client Cairn Energy PLC.

  7. September 26, 2017

    HSBC Traders Blamed Forex Spike On Russia Bank, Jury Told

    An HSBC executive and cooperating witness in the trial of the bank's former head of foreign exchange spot trading, who's accused of illicitly trading on Cairn Energy PLC's $3.5 billion currency swap, on Tuesday told a Brooklyn jury of how HSBC traders blamed a Russian bank when the trade went south for Cairn.

  8. September 25, 2017

    HSBC Exec Burned Energy Co. In Forex Scheme, Jury Told

    The trial of former senior HSBC Holdings PLC executive Mark Johnson for scamming oil and gas developer Cairn Energy PLC began on Monday with jurors hearing that he used a $3.5 billion foreign currency exchange deal for the oil and gas developer to net illicit profits for the bank at its client's expense.

  9. August 31, 2017

    Ex-HSBC Exec Headed To Trial Over Forex Scam

    A Brooklyn federal judge on Thursday said the trial of a former senior HSBC Holdings PLC executive accused of running a scheme to front-run a $3.5 billion foreign exchange transaction will begin at the end of September.

  10. June 08, 2017

    UK Police Arrest Ex-HSBC Trader Sought In US Fraud Case

    British police have arrested a former HSBC currency trader who is being sought by the U.S. for extradition to stand trial for alleged involvement in a $3.5 billion insider trading scheme in 2011, his U.K. attorney said Thursday.

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