Trader Neil Phillips’s trial begins Monday in Manhattan federal court over allegations that he illegally rigged an exchange rate.
A London hedge fund’s big bet on the outcome of a South African party’s leadership vote earned it more than $20 million. Six years later, the trader who placed the wager faces criminal charges in Manhattan, where prosecutors claim he manipulated the foreign-exchange market to achieve his payday.This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law.
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