US presses for tougher sentence for Mark Johnson
DoJ wants profits made by Frank Cahill’s trading activity to be factored into Johnson’s sentence
US prosecutors in the frontrunning case against former HSBC currency executive Mark Johnson have opposed a $3.1 million loss amount calculated in a pre-sentencing investigation report, claiming it fails to capture the total profit gained by the bank through the fraudulent scheme.
Instead, the US Department of Justice (DoJ) is pushing for the probation department to also consider the $4.2 million that Frank Cahill, a former foreign exchange trader, contributed to HSBC’s spot book. Currently, the
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