Ex-HSBC exec found guilty of fraud in $3.5 bn currency trade
A US jury has found Mark Johnson, a former HSBC Holdings executive, guilty of defrauding Cairn Energy in a $3.5 billion currency trade in 2011. The prosecutors said Johnson schemed to raise the price of British pounds before executing a trade for Cairn, making millions for HSBC at Cairn's expense. He faces a maximum sentence of 20 years in prison.