FX Cartel loses bid to dismiss criminal case

Judge says SFO investigation was a sign the currency traders could be prosecuted somewhere

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Fair warning: NY judge unmoved by defendants’ argument that there wasn't a horizontal restraint of trade

Three former UK currency traders have lost their motion to dismiss an indictment charging them with conspiracy to restrain trade in the EUR/USD spot market, as the presiding judge said they had fair warning the alleged conduct was criminal and could open them up to prosecution elsewhere.

The trial of Christopher Ashton, Rohan Ramchandani and Richard Usher is scheduled to begin on October 1.

Prosecutors claim that between December 2007 and January 2013, the three men refrained from trading

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