Gardiner: FX Cartel had ‘gentlemen’s agreement’  

Matthew Gardiner, a co-operating witness for the government, says the group co-ordinated trades for profit

Deals news
Gentlemen’s agreement: Gardiner says that what he did for the Cartel, he would not do for a competitor

Matthew Gardiner, an alleged co-conspirator in the foreign exchange Cartel on trial in New York, said they had a “gentlemen’s agreement” not to trade in a way that was detrimental to one another.

Gardiner is testifying under a non-prosecution agreement as a key witness for the government in its criminal case against alleged Cartel members Christopher Ashton, formerly of Barclays, Rohan Ramchandani, formerly of Citi, and Richard Usher, who was employed at RBS and JP Morgan. They are accused of

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