Trading News and Events in the Economic Calendar
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The principal charges accused currency traders at some banks of making rigged trades designed to lose money — then trader news forex cash kickbacks from co-conspirators who made money on the deals. Currency traders at J. Attorney James Comey told reporters.
Authorities stressed that while the trader news forex fraud was widespread, it constitutes only a fraction of the trillion-dollar-a-day foreign currency market. They said no banks were implicated in the fraud. The currency exchange market has no central headquarters, instead operating 24 hours a day as a trader news forex network of traders, connected by telephones and computers. Currency brokers also play a role, acting as intermediaries between banks.
The charges announced Wednesday resulted from an month investigation that spread to six states: Charges filed against the 47 defendants included bank fraud, mail fraud, wire fraud, securities fraud and money laundering. There was no immediate word on when they would appear in court. Federal authorities said 40 of the 47 were arrested late Tuesday and early Wednesday, two were previously arrested and the remainder were expected to be arrested later.
Among those arrested was Stephen E. Moore, who formerly served on the foreign exchange committee of the Federal Reserve Bank, prosecutors said. An attorney for Moore could not immediately be reached. This material may not be published, broadcast, rewritten or redistributed. Microsoft trader news forex Satya Nadella on Tuesday as its new chief executive officer.
Nadella, who joined the software company 22 years ago, replaces Steve Ballmer. Corporate scandals trader news forex NBCNews. Dozens of forex traders arrested 47 charged in raids on alleged illegal currency trading firms Below: Attorney James Comey, speaking trader news forex a press conference on Wednesday, said losses related to the alleged illegal foreign currency trades, "were in the millions.
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