This is great!! How did we
miss this a month ago?
http://www.nbcnews.com/id/3540930/ns/business-corporate_scandals/t/dozens-forex-traders-arrested/#.UrpXnSihClI
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updated 11/25/2003 2:57:09 PM ET
Dozens of forex traders arrested
The Associated Press
NEW YORK, Nov. 19 — Federal authorities announced charges Wednesday against 47 people in a broad crackdown on fraud in the foreign currency exchange market that officials said bilked millions from big-name banks and small investors alike.
Most of the bankers, stockbrokers and traders were picked up in raids late Tuesday and early Wednesday in what law-enforcement officials called their most sweeping infiltration ever into the foreign currency markets.
The principal charges accused currency traders at some banks of making rigged trades designed to lose money — then taking cash kickbacks from co-conspirators who made money on the deals.
http://www.nbcnews.com/id/3540930/ns/business-corporate_scandals/t/dozens-forex-traders-arrested/#.UrpXnSihClI
NBCNews.com
Receive NBCNews newsletters
updated 11/25/2003 2:57:09 PM ET
Dozens of forex traders arrested
The Associated Press
NEW YORK, Nov. 19 — Federal authorities announced charges Wednesday against 47 people in a broad crackdown on fraud in the foreign currency exchange market that officials said bilked millions from big-name banks and small investors alike.
Most of the bankers, stockbrokers and traders were picked up in raids late Tuesday and early Wednesday in what law-enforcement officials called their most sweeping infiltration ever into the foreign currency markets.
The principal charges accused currency traders at some banks of making rigged trades designed to lose money — then taking cash kickbacks from co-conspirators who made money on the deals.
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