Thu, 17 Jul 2025

Thu, 17 Jul 2025 Former HSBC trader has fraud conviction overturned

Mark Johnson, 59, has fought to establish his innocence ever since he was convicted of fraud in 2017.
Mark Johnson, a former HSBC trader from Hampshire, has had his conviction overturned after nine years. He was originally convicted in 2017 of manipulating foreign exchange rates and served time in US federal prisons and Wandsworth prison. However, following the overturning of a law used to prosecute him in 2023, Mr Johnson launched a fresh appeal which has now been allowed by a US appeal court. His lawyer said "We are delighted that justice has finally been achieved for Mark Johnson" adding that the case should never have been brought. Prosecutors had alleged he had conspired with a colleague to increase the price of sterling against the dollar, but it is claimed this was standard industry practice known as 'pre-hedging'. Mr Johnson's family and lawyer say he looks forward to moving on with his life after the ordeal.
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