US seeks seven-year minimum prison term for Mark Johnson

Defence disputes whether Cairn Energy suffered a loss as a result of Johnson’s misconduct

mark johnson - PA photo - payment for every use.jpg
Mark Johnson: the first senior banker to face trial since the DoJ's investigations began in 2013
Brendan McDermid/Reuters/PA Images

The US Department of Justice is seeking a prison term of at least seven years for Mark Johnson, the former HSBC senior banker convicted of front-running a large currency order from one of the bank’s clients in 2011.

The DoJ is also proposing a fine of between $30,000 and $300,000 to deter other traders from misusing client information.

In its sentencing memorandum filed on April 5, the DoJ said a sentence of no fewer than 84 months and a substantial fine would be sufficient to achieve the aims

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