January 18, 2018

UK-based financial services company HSBC Holdings plc agreed to pay a $63.1 million criminal penalty and $38.4 million in disgorgement and restitution, for a total payout of roughly $100 million, to resolve charges that it engaged in a scheme to defraud two bank clients through a multi-million dollar scheme commonly referred to as “front-running.” DOJ

Tagged in: Financial Institution Fraud, Market Manipulation and Trading Violations, Securities Fraud,