Article: Citibank Faces New Forex Rigging Suit From Currency Trader

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Citibank Faces New Forex Rigging Suit From Currency Trader

Joanne Faulkner, 29 March 2021

Citibank has become the latest bank to be sued by a British currency investment firm over allegations that its traders manipulated foreign exchange markets for profit, in the expanding litigation accusing the company of trade front-running.

ECU Group PLC alleges in an amended March 10 High Court claim, which was recently made public, that traders at Citibank NA misused its confidential information to make secret profits. They allegedly traded ahead of forex transactions by ECU clients, an illegal tactic known as front-running. Continue reading “Article: Citibank Faces New Forex Rigging Suit From Currency Trader”

Article: Goldman Faces New Forex Rigging Suit From Currency Trader

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Goldman Faces New Forex Rigging Suit From Currency Trader

Richard Crump, 12 March 2021

Goldman Sachs is being sued in London over allegations that its traders manipulated foreign exchange markets for profit, in the latest lawsuit filed by a British currency investment firm over trade front-running.

ECU Group alleges that traders at Goldman Sachs International misused its confidential information to make secret profits by trading ahead of foreign exchange transactions by the British company, an illegal tactic known as front-running, according to the High Court claim filed in November but only recently made public. Continue reading “Article: Goldman Faces New Forex Rigging Suit From Currency Trader”