Why aren’t crooked bankers in prison? As our banks are fined £2bn for fixing currency rates, clamour grows for dozens of traders to face prosecution

Wednesday, November 12, 2014
By Paul Martin

RBS, HSBC, JPMorgan Chase, UBS and Citibank fined in UK and U.S.
Barclays bank will also be fined but it is still negotiating its punishment
Bankers were rigging the £3.5trillion-a-day foreign exchange markets
Anyone found guilty of manipulating the Forex market could face jail
30 traders have been sacked or suspended but none have been arrested
Bankers colluded on forums to share information on clients to make cash
Traders called themselves the A-Team, Three Musketeers and The Players
Messages on forums bragged about making ‘free money’ and bonuses

By James Salmon
12 November 2014

Dozens of traders face prosecution after five banks were fined £2.6billion yesterday for fixing currency markets.

Damning transcripts of City workers bragging about making ‘free money’ and laughing at ‘numpties’ not in on their scam were published by regulators.

Calling themselves ‘players’, ‘musketeers’ or members of the ‘A-Team’, the traders congratulate each other on ‘killing it’ with rigged deals.

Incredibly, their corrupt activities continued for more than a year after the authorities started dishing out an earlier £4billion in fines for the fixing of Libor interest rates.

The Rest…HERE

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