Cartel trial kicks off with ‘billions of dollars’ claim

US prosecutors say the three former traders crossed the line and got an unfair advantage

dollar-euro
Court claims: the men are accused of rigging EUR/USD prices

Billions of dollars were at stake each day for the five years that a so-called foreign exchange cartel was in operation, US prosecutors told jurors hearing the case against three former UK currency traders accused of price manipulation.

This bold statement, on the afternoon of October 10, marked the beginning of the criminal trial against Christopher Ashton, Rohan Ramchandani and Richard Usher.

The US attorneys say the three British nationals, who worked at competing banks, conspired using a c

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