Forex ‘Cartel’ not guilty but still paying a penalty

Despite acquittal, three former forex traders anticipate obstacles in trying to rebuild their careers

US Department of Justice
US Department of Justice: acquittal delivered a significant upset
Photo: Bjoertvedt/Wikimedia Commons

They were indicted, tried and acquitted of charges that they conspired to rig foreign exchange benchmark rates, but that victory has come at a cost for the three former currency traders in the ‘Cartel’ case.

Risk.net sister publication FX Week spoke to Christopher Ashton, Rohan Ramchandani and Richard Usher, the three forex traders whose October 2018 acquittal delivered a significant upset for the US Department of Justice. The ruling brought an end to a five-year legal fight for the London

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