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

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.”