A foreign exchange trader in New York has been indicted in connection with a broader probe into the rigging of currency prices by major banks, U.S. prosecutors said on Thursday.
Akshay Aiyer conspired from at least October 2010 to July 2013 to eliminate competition by fixing prices of and rigging bids for Central and Eastern European, Middle Eastern and African currencies, according to the indictment filed with the U.S. District Court in Manhattan.
Aiyer's employer was not identified, but South African media reporting on the alleged rigging of that country's currency, the rand, have said a person with that name worked for JPMorgan Chase & Co.
JPMorgan did not immediately respond to requests for comment. The U.S. Department of Justice did not immediately respond to similar requests.
The indictment said Aiyer's co-conspirators included Jason Katz, a former trader at Barclays Plc and BNP Paribas SA, and Christopher Cummins, a former trader at Citigroup Inc.
Katz and Cummins pleaded guilty in January 2017 to conspiring to rig currencies.
Barclays, BNP Paribas, Citigroup, JPMorgan, Royal Bank of Scotland Group Plc and UBS Group AG have entered guilty pleas in the Justice Department's currency probe, and have collectively been fined more than $2.8 billion.
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