Justice Department to reportedly charge banks, individuals over currency manipulation

October 07, 2014FoxNews.comThe Justice Department is planning to investigate and charge several of the world’s largest banks with crimes connected to the manipulation of currency exchanges, according to a published report.According to The New York Times, federal prosecutors are planning to indict individual bank employees for currency manipulation, using instant messages as evidence. That is in contrast to recent investigations into securities-backed mortgage trading, which ended in multi-million dollar fines being paid by the banks themselves.The Times reports that approximately a dozen financial institutions under investigation, including Deutsche Bank, Citigroup, JP Morgan Chase, Barclays, and UBS. Charges are expected to be filed against at least one bank before the end of the year, with several expected to plead guilty.

via Justice Department to reportedly charge banks, individuals over currency manipulation.

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