Foreign exchange dealer pleads guilty to US rate fixing charge

January 12, 2017 22:06

WASHINGTON - A foreign exchange dealer who specialized in central and eastern European, Middle Eastern and African currencies has pleaded guilty to conspiring to fix currency prices, the US Department of Justice said on Thursday.

The department identified the trader as Christopher Cummins but did not identify his employer other than saying it is a New York-based financial institution.He is the second trader to admit guilt in the probe. The first was Jason Katz, a former trader at Barclays who later worked at BNP Paribas SA and who pleaded guilty on Jan. 4.

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