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Barclays forex trader charged in 'front-running' scheme

Jaclyn Jaeger | January 17, 2018

The Department of Justice has charged the former head of Barclays Capital’s New York foreign exchange trading operation in an indictment for his alleged role in a scheme to defraud a client of Barclays through a method commonly referred to as “front-running.” 

The charges relate to the manipulation of foreign exchange options in advance of an exceptionally large trade by Hewlett-Packard Company (HP) in 2011. Robert Bogucki was charged in an indictment filed in the Northern District of California on Jan. 16, with one count of conspiracy to commit wire fraud and six counts of wire fraud.  He will make his initial appearance on Jan. 17 before U.S. Magistrate Judge Cheryl Pollak of the Eastern District of New York. 

According to the indictment, in September and October 2011, Bogucki misused information provided to him...

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