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

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: