Where prosecutors stumbled in Bogucki and Cartel cases

Courtroom losses suggest failure to read the FX industry correctly before jumping into action

Knowledge gap
Knowledge gap: US government prosecutors may be misreading the culture of the FX industry

US prosecutors’ failure to make charges stick against former foreign exchange traders accused of misconduct has exposed gaps in understanding an industry that officials are still trying to clean up.

Recent losses against the ‘Cartel’ three and former Barclays trader Robert Bogucki suggest government prosecutors may be misreading the culture of the FX industry before leaping into action.

Earlier this month, California judge Charles Breyer acquitted Bogucki of fraud charges brought by the US,

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