HSBC Official Arrested in FX Rigging Probe, Bloomberg TV Says
NEW YORK (TheStreet) -- A senior manager at HSBC (HSBC) - Get Report was arrested for his alleged role in a conspiracy to rig currency benchmarks, Bloomberg TV's Jonathan Ferro reported on "Bloomberg Go" Wednesday morning.
The financial firm's Mark Johnson, global head of foreign exchange cash trading in London, was reportedly arrested at the JFK Airport in New York City yesterday.
"Johnson [is] said to be the first person charged by the United States in an FX probe," Ferro said.
Johnson will appear before a federal court in Brooklyn this morning on charges of conspiracy to commit wire fraud, according to Bloomberg.
The Justice Department began its investigation into foreign-exchange rigging at global banks three years ago. A little more than a year ago, five global banks pleaded guilty to rigging-related charges.
Shares of HSBC are up by 1.72% to $32.52 early this morning.