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FX Rigging May Have Spread to 200 Chat Rooms, Lawyer Says
Traders may have used as many as 200 online chat rooms to rig foreign exchange rates, far more than previously thought, a lawyer for investors told a London court Monday. Marie Demetriou, a lawyer for investment funds suing seven banks, said that some of the newly discovered chat rooms were instant message groups that lasted just a few hours while others were “permanent” fixtures established over months. The chat rooms, as well as emails, telephone calls and WhatsApp messages will play a central role in a suit brought by investment funds. They’re suing banks including Barclays Plc, Citigroup Inc. and JPMorgan ... (full story)
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