The Barclays logo is seen in front of displayed stock graph in this illustration taken June 21, 2017.
The former head of foreign currency exchange trading for a Barclays PLC unit's NY office has been charged with fraud and conspiracy for a purported scheme to defraud Hewlett-Packard Co. out of millions of dollars by manipulating the market for foreign exchange options, according to an indictment announced late Tuesday.
Bogucki, 45, of East Setauket, New York, allegedly manipulated foreign exchange options to lower the price of a huge trade, causing Hewlett-Packard to lose millions of dollars that Barclays pocketed when it acquired the options at a bargain price.
Barclays stated that it has been cooperating fully with the Department of Justica, adding that the incident was prior to the improvements it made to the conduct and control procedures in 2012.
Bogucki, a United States citizen who lives in NY, pleaded not guilty in Brooklyn federal court on Wednesday and was released on bail.
"He tried hard to do right by HP while following the rules that governed market-makers in foreign exchange for many years".
He has been leave from Barclays since November 2016.Читайте также: Dolores O'Riordan's boyfriend pays heartbreaking tribute to late singer
His case will proceed in San Jose, California federal court, where the indictment against him was filed.
According to the DoJ indictment, Bogucki, a USA citizen, is alleged to have misused information provided to him by HP before the company's planned acquisition of a British-based company.
HP hired Barclays to execute £6 billion (RM32.86 billion) worth of foreign exchange options as part of that deal.
Instead, the indictment alleges, Bogucki directed options trading in a way that was created to depress the price of volatility, to the benefit of Barclays and at HP's expense.
Bogucki is charged with one count of conspiracy and six counts of wire fraud.
The indictment alleges that Bogucki and other unnamed Barclays bankers sought to enrich the bank and themselves.
The indictment is the second brought against the head of a foreign exchange desk at a major worldwide bank, as the US continues to investigate fraud in global foreign exchange markets.При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
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