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US: London FX traders enter not guilty plea

By  |  July 17, 2017

Three former London-based traders pleaded not guilty on Monday to US charges they conspired to rig prices in the roughly US$5 trillion foreign exchange market.

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    Chris Ashton, Rohan Ramchandani and Richard Usher, who worked at Barclays Plc, Citigroup Inc and JPMorgan Chase & Co, respectively, entered their pleas through their lawyers before US District Judge Richard Berman in Manhattan.

    Bail has been set at US$200,000 for Ashton, US$1 million for Ramchandani and US$650,000 for Usher, each partially secured by cash. The defendants plan to jointly seek dismissal of the case.

    The case followed worldwide probes that resulted in approximately US$10 billion in fines for several large banks, and the firing of dozens of traders.

    Full Content: Reuters

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