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HSBC banker arrested at New York airport

Global head of foreign exchange cash trading in London one of first to be charged in front-running probe

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Published Thu, Jul 21, 2016 · 09:50 PM

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    New York

    US federal agents surprised an HSBC Holdings plc executive as he prepared to fly out of New York's Kennedy airport around 7.30 pm on Tuesday, arresting him for an alleged front-running scheme involving a US$3.5 billion currency transaction in 2011.

    Mark Johnson, HSBC's global head of foreign exchange cash trading in London, was held in a Brooklyn jail overnight and appeared in court on Wednesday, according to prosecutors. The US unsealed a complaint against him and Stuart Scott, the bank's former head of currency trading in Europe, making them the first individuals to be charged in the long-running probe.

    HSBC

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