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Ex-HSBC Head of Global FX Crash Trading Desk & UK Citizen Mark Johnson Successfully Overturned 2017 Fraud Conviction in for Front-Running $3.5 Billion Currency Trades of UK Oil & Gas Exploration Company Cairn Energy in United States Court, Had Served 2 Years Jail Sentence, HSBC Client Capricorn Energy (Previously Cairn Energy) Hired HSBC Mark Johnson & HSBC Executive in 2011 to Convert $3.5 Billion into GBP in View of Selling Indian Subsidiary, Prosecutors Accused HSBC Executives of Buying GBP First (Front-Running) Before Completing Cairn Energy Currency Trades & Earned $7 Million Profit, Mark Johnson was Convicted of Wire Fraud & Conspiracy in 2017 & Appeals Court Upheld Conviction in 2019
18th July | Hong Kong
Ex-HSBC Head of Global FX Crash Trading Desk & UK citizen Mark Johnson has successfully overturned his 2017 fraud conviction for front-running $3.5 billion currency trades of UK oil & gas exploration company Cairn Energy in United States Supreme Court, having served 2 years jail sentence. In 2011, HSBC client Capricorn Energy (Previously Cairn Energy) had hired HSBC Mark Johnson & a HSBC executive to convert $3.5 billion into GBP in view of selling an Indian subsidiary. United States prosecutors had accused HSBC executives of buying GBP first (Front-running) before completing Cairn Energy currency trades, and earned $7 million profit. Mark Johnson was convicted of Wire fraud & conspiracy in 2017, and the United States Appeals Court upheld the conviction in 2019.
“ Ex-HSBC Head of Global FX Crash Trading Desk & UK Citizen Mark Johnson Successfully Overturned 2017 Fraud Conviction in for Front-Running $3.5 Billion Currency Trades of UK Oil & Gas Exploration Company Cairn Energy in United States Court, Had Served 2 Years Jail Sentence, HSBC Client Capricorn Energy (Previously Cairn Energy) Hired HSBC Mark Johnson & HSBC Executive in 2011 to Convert $3.5 Billion into GBP in View of Selling Indian Subsidiary, Prosecutors Accused HSBC Executives of Buying GBP First (Front-Running) Before Completing Cairn Energy Currency Trades & Earned $7 Million Profit, Mark Johnson was Convicted of Wire Fraud & Conspiracy in 2017 & Appeals Court Upheld Conviction in 2019 “
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Ex-HSBC Head of Global FX Crash Trading Desk & UK Citizen Mark Johnson Successfully Overturned 2017 Fraud Conviction in for Front-Running $3.5 Billion Currency Trades of UK Oil & Gas Exploration Company Cairn Energy in United States Court, Had Served 2 Years Jail Sentence, HSBC Client Capricorn Energy (Previously Cairn Energy) Hired HSBC Mark Johnson & HSBC Executive in 2011 to Convert $3.5 Billion into GBP in View of Selling Indian Subsidiary, Prosecutors Accused HSBC Executives of Buying GBP First (Front-Running) Before Completing Cairn Energy Currency Trades & Earned $7 Million Profit, Mark Johnson was Convicted of Wire Fraud & Conspiracy in 2017 & Appeals Court Upheld Conviction in 2019
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