A former HSBC banker has just been convicted in $3.5bn fraud case

A former HSBC banker has been found guilty by a US jury of defrauding a UK-headquartered energy firm in a $3.5bn currency trade. Mark Johnson, who was HSBC's head of global cash foreign exchange trading, was found guilty on nine counts, in a court room in Brooklyn, New York. Johnson,51, was accused of exploiting confidential information from Cairn Energy in 2011 to "front run" the oil and gas firm in the currency markets, thus making an $8m profit for the bank at the expense of its client.
Read more: http://www.independent.co.uk/news/business/news/mark-johnson-guilty-hsbc-banker-fraud-case-trade-uk-energy-firm-a8015971.html?source=Snapzu