Bloomberg - Ex-HSBC banker arrested

HSBC Canary Wharf

While his former colleague was arrested as he was about to board a plane at a New York City Airport in July, Stuart Scott, the former head of HSBC’s currency trading in Europe, has remained free at home in suburban London.

Bloomberg News reports that that came to an abrupt end on June 5 when U.K. authorities arrested Scott at the request of the U.S. government, federal prosecutors told a U.S. judge in Brooklyn, New York, in a letter filed late Wednesday.

Since last year, prosecutors have been attempting to bring Scott to the U.S. to face charges that he and Mark Johnson schemed to rig foreign-exchange markets, in the first U.S. case of its kind. Johnson, HSBC’s global head of foreign-exchange cash trading in London, has pleaded not guilty and is free on bond.

Scott’s next scheduled court appearance is July 31. Prosecutors didn’t say which court Scott would appear in or whether he plans to challenge his extradition to New York.

Hit the link below to access the complete Bloomberg News article:

Ex-HSBC Banker Scott Arrested in U.K. in American Currency Case

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