Senior HSBC Exec Arrested in $3.5Bn US Forex Trading Probe

Mark Johnson, HSBC’s global head of foreign exchange cash trading in London, has reportedly been detained

by Ben Martin and Harriet Alexander

A senior HSBC executive has been charged with fraud linked to a giant $3.5bn currency trade after he was arrested by FBI agents at JFK airport.

Mark Johnson, HSBC’s head of FX and commodities for the Americas, was arrested by Federal agents at the New York airport on Tuesday evening, in what marks a major escalation of the US Department of Justice long-running investigation into foreign exchange trading at global banks.

Mr Johnson, 50, and 43-year old Stuart Scott, who left the lender in December 2014, face charges of conspiring to defraud a client five years ago by “front-running” a currency deal.

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