The ‘Cartel’ three: not guilty, but still paying a penalty

Despite their acquittal, the former FX traders face obstacles in trying to rebuild their careers – meaning the DoJ didn’t fail, says one expert

The cartel
Rohan Ramchandani (centre) leaves federal court in New York on July 17, 2017
Image: Bloomberg/Getty

They were indicted, tried and acquitted of charges that they conspired to rig foreign exchange benchmark rates, but that victory has come at a cost for the three former currency traders in the ‘Cartel’ case.

The October 2018 jury verdict in favour of Christopher Ashton, Rohan Ramchandani and Richard Usher delivered a significant upset for the US Department of Justice. It brought an end to a five-year legal fight for the London-based traders, who maintained they had followed the rules in their

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