UPDATE 1-U.S. court upholds ex-HSBC executive's conviction for foreign-exchange scheme [Reuters (UK)]
CAPRICORN ENERGY UNSP/ADR (CRNCY)
NASDAQ:AMEX Investor Relations:
cairnenergy.com/investors
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Source: Reuters
U.S. court upholds ex-HSBC executive's conviction for foreign-exchange scheme - Reuters 3 Min Read NEW YORK (Reuters) - A U.S. appeals court on Thursday upheld the conviction of a former HSBC Holdings Plc ( HSBA.L ) executive who was sentenced to two years in prison for defrauding Cairn Energy Plc ( CNE.L ) in a $3.5 billion currency trade. A unanimous three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan ruled that a jury had enough evidence to find that Mark Johnson, formerly head of HSBC’s global foreign exchange cash trading desk, withheld material information from Cairn. “We are extremely disappointed with the result,” said Alexandra Shapiro, Johnson’s lawyer. “Mark Johnson is innocent. We intend to keep fighting to ensure that justice prevails and will explore every legal avenue possible to clear his name.” A spokesman for the prosecutors declined to comment. Johnson, a British citizen, was convicted of fraud in October 2017 in a federal court in the New Yo
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