stock market/financial services corrupt much
Feds charge Barclays trader with fraud in Hewlett-Packard deal
The former head of foreign currency exchanges at Barclays New York has been charged in the US with devising and executing a "scheme to defraud HP of money and property", according to an indictment entered yesterday. Robert Bogucki is accused of six counts of wire fraud, and one count of conspiracy, after Feds alleged he used …
COMMENTS
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Sunday 21st January 2018 12:14 GMT Halcin
Amazingly....
no one on the other side of the pond is ever charged. Not just Barclay employees, but all the others*. In Europe, there is always some "explanation" for the complete lack of criminal charges.
The criminal behavior of our "elders and betters" just keep stacking up and yet...
*Like say, staff in other banks, car manufacturers, bod's in charge of football (soccer). Other examples are available.
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Sunday 21st January 2018 15:25 GMT Michael Wojcik
Re: Amazingly....
When the prosecutions originate in the US, that's because of Deferred Prosecution Agreements. DPAs let US prosecutors extract a statement from the accused organization (details secret and generally not an admission of wrongdoing) and a fine. They let the prosecutor take credit for successfully settling a case without risking going to trial, and save the defending organization embarrassment and possible prosecution of high-ranking officials.
For more details see The Chickenshit Club.
The prosecutorial profession in the US is ailing badly. Poor defendants are overwhelmingly muscled into plea bargains, while rich ones are deferred. The prosecutor's office has become a stepping-stone to political office and other positions of influence, and prosecutors are both publicity-seeking and risk-averse. The entire system has pretty much degenerated into class-stratified fiat justice.
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