Chase Considers Legal Action Against Former FX Trader

- By FX Markets Staff
- @FXMarkets_
- 08 Nov 1999

Tweet
Facebook
LinkedIn
Save this article
Send to
Print this page

NEW YORK--Chase Manhattan Bank announced last week that it has fired a senior currency trader and will restate its Q4 trading result by $60 million, following the discovery of suspicious activity in its New York dealing room.

The US bank is currently considering legal action against the former employee, who had been over-reporting his trading gains for more than a year. The revaluation will be necessary because of repeated miscalculations in the value of forward FX contracts.

Officials in Chase's

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to print this content. Please contact customer services - www.fx-markets.com/static/contact-us to find out more.

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.

If you would like to purchase additional rights please email info@fx-markets.com

You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.

If you would like to purchase additional rights please email info@fx-markets.com