JP Morgan trader Aiyer guilty of price-fixing conspiracy
Akshay Aiyer is second currency trader to be convicted in US’s ongoing probe into FX market
Former JP Morgan trader Akshay Aiyer has been found guilty of conspiring to manipulate prices in emerging markets currencies, handing another victory to the US Department of Justice (DoJ) as it pursues individual accountability in its crackdown on misconduct in foreign exchange markets.
Jurors in New York returned the verdict on November 20, after three weeks of trial. Aiyer was indicted in May 2018. Sentencing is set for April 3, 2020. The charge carries a maximum of 10 years in prison and a
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