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Press Release

Statement Of U.S. Attorney Damian Williams On The Conviction Of Neil Phillips

For Immediate Release
U.S. Attorney's Office, Southern District of New York

U.S. Attorney Damian Williams said: “Moments ago, a jury unanimously found that Neil Phillips intentionally manipulated the Foreign Exchange, or ‘FX’ market — the world’s largest decentralized financial market — in order to trigger a $20 million windfall for his hedge fund under a barrier option.  The policing of the financial markets is critical to the health and sanctity of our economy.  I commend the Securities and Commodities Fraud Task Force of this Office for continuing to be a global law enforcement leader in ensuring fair market activity for investors at every level.”


Nicholas Biase
(212) 637-2600

Updated October 25, 2023

Securities, Commodities, & Investment Fraud
Press Release Number: 23-371