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Author: Don Obrien

Forex-Rigging Case Tainted By Judge Error, 2nd Circ. Told


Law360 (August 27, 2021, 6:28 PM EDT) — An attorney for a former JPMorgan Chase & Co. foreign currency trader sentenced to prison for conspiring to fix prices on Friday asked the Second Circuit to vacate his conviction or order a new trial, saying the lower court erred by failing to make a determination on what legal standard applies to the case.

Akshay Aiyer was convicted at trial in 2019 for fixing prices on trades for Central and Eastern European, Middle Eastern and African, or CEEMEA, currencies between 2010 and 2013.

Prosecutors say Aiyer used a chatroom to discuss market conditions, clients and bids with fellow traders, including cooperating…

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