Big Banks Fined $5.7 Billion After Pleading Guilty To Global Currency Conspiracy [1]

Source: wwwtruthinmedia.com [2] | Original Post Date: May 20, 2015 –

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On Wednesday, the Department of Justice announced that five major banks – Barclays, Royal Bank of Scotland, JPMorgan Chase, UBS and Citigroup – will be fined approximately $5.7 billion after pleading guilty to crimes involving the manipulation of global currencies and interest rates.

The DoJ noted that four of the banks – Citigroup, JPMorgan Chase, Barclays and the Royal Bank of Scotland – have been forced to plead guilty to antitrust violations in the foreign exchange market, after they allegedly worked together to enhance their profits by manipulating the $5-trillion-a-day foreign exchange market to $10 billion.