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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