Former Foreign Exchange Trader Sentenced To Prison For Price Fixing And Bid Rigging

From justice.gov

Akshay Aiyer, a former currency trader at a major multinational bank, was sentenced to serve eight months in jail and ordered to pay a $150,000 criminal fine for his participation in an antitrust conspiracy to manipulate prices for emerging market currencies in the global foreign currency exchange (FX) market, the Justice Department announced today. On Nov. 20, 2019, Aiyer was convicted after a three-week jury trial in the U.S. District Court for the Southern District of New York for conspiring to fix prices and rig bids in Central and Eastern European, Middle Eastern, and African (CEEMEA) currencies, which were ... (full story)