NatWest Markets, the investment banking arm of London-based NatWest Group, agreed to pay approximately $35 million in a criminal fine, restitution, and forfeiture after admitting to engaging in various fraud schemes over the span of a decade in U.S. Treasury markets.
NatWest Markets (NatWest) pleaded guilty Tuesday in U.S. federal court to one count of wire fraud and one count of securities fraud in connection with historical spoofing conducted by former employees in U.S. Treasury markets between January 2008 and May 2014 and, separately, during approximately three months in 2018. U.S. District Judge Omar Williams of the District of Connecticut accepted the pleas.
