Reuters - BNP Paribas agrees to plead guilty and pay a $90m fine

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A unit of BNP Paribas agreed to plead guilty and pay a $90 million criminal fine for rigging foreign currency prices, the U.S. Department of Justice said on Friday.

Reuters reports that BNP Paribas USA admitted to having conspired to suppress competition by fixing prices for Central and Eastern European, Middle Eastern and African currencies from September 2011 to July 2013, violating U.S. antitrust law.

The Justice Department said the conspiracy involved price manipulation on an electronic trading platform through the creation of bogus trades, coordinated trading, and agreements on what prices to quote to specific customers, among other means.

Hit the link below to access the complete Reuters articles:

BNP Paribas unit pleads guilty in U.S. to currency rigging, fined $90 million

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