The Traderszone Network

Published in TZ Latest News 9 February, 2015 by The TZ Newswire Staff

DoJ seeks felony pleas by big banks in foreign currency inquiry: NYT

In the final stages of a long-running investigation into corruption in the world’s largest financial market, federal prosecutors have recently informed Barclays, JPMorgan Chase, the Royal Bank of Scotland and Citigroup that they must enter guilty pleas to settle the cases, the newspaper reported. The pleas would be likely to carry a symbolic stigma, if limited actual fallout, in handing felony convictions to some of the world’s biggest banks, the newspaper said. Representatives of Citigroup, JP Morgan, RBS and Barclays did not respond to emails seeking comment on the report.

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