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US: Bankers turned informants in DOJ’s forex probe

By  |  September 15, 2014

The US Department of Justice has reportedly been utilizing existing banking employees as informants in its investigation of claims of foreign exchange markets, and unnamed sources say officials are ready to bring criminal charges against individuals as soon as next month.

Reports say it is unknown which banks have the supposed employees being used as informants for the DOJ, but several of the world’s largest banks – including JP Morgan Chase, Goldman Sachs and Barclays – are all under investigation.

According to reports, the DOJ’s use of secret informants could be due to growing pressure on authorities to bring criminal charges against traders accused of manipulating the markets. The case has already been reported to have gone high-tech as regulators gather electronic chats and documents from the banks.

Full content: Wall Street Journal

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