Australian FX Dealers Guilty Of Multimillion Dollar Fraud

BANKS

Two Australian foreign exchange dealers have been convicted of fraud and ordered by the Supreme Court in Sydney to pay $4.7 million Australian in damages to an electronics group.

The case comes at a time when opposition politicians are calling for an inquiry into financial regulation of Australia's booming market in forex and derivatives products ahead of the March 13 general election.

The court found that electronics group AWA's former foreign exchange dealer, Andrew Koval, and Jonathan de

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