Johnson under cross-examination

Prosecution attorneys argue HSBC went beyond its executing bank role when it advised Cairn on order execution

HSBC
Know your role: Government says HSBC’s relationship with Cairn Energy went beyond arm’s-length

Attorneys for the prosecution are arguing that Mark Johnson, the former HSBC employee on trial for alleged wire fraud and conspiracy, and his former bank, HSBC, owed a fiduciary care to its client, Cairn Energy, despite the bank executing the $3.5 billion transaction in 2011 as a principal.

During cross-examination on October 16, US attorney Carol Sipperly briefly questioned Johnson on whether HSBC was making recommendations and giving advice to the oil and gas firm about the best time to

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