Forex Scandal

[Rajoo]

Five global banks to pay $5.7 billion in fines over rate rigging

U.S. banks JPMorgan Chase and Citigroup will pay $550 million and $925 million in criminal fines, respectively, as part of their guilty pleas.

British banks Barclays Plc will pay $650 million in criminal penalties and Royal Bank of Scotland Plc $395 million. Each will plead guilty to one felony count of conspiring to fix prices and rig bids for U.S. dollars and euros in the foreign exchange spot market.

A fifth bank, UBS AG, will plead guilty to rigging benchmark interest rates, the U.S. Justice Department said.

Guess TARP was not enough to fill their coffers. As usual looks like no imminent prosecution of the culprits either.

http://www.reuters.com/article/2015/...0O51PY20150520