BNY Asks to Toss U.S. Fraud Case Over Currency Trading
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Bank of New York Mellon Corp., the world’s largest custody bank, contested claims by the U.S. that it defrauded clients in foreign-exchange transactions and asked a court to dismiss the government’s lawsuit.
BNY Mellon said disclosures that it made to clients about the trading negate the claim that the bank engaged in a “scheme to defraud,” according to a court filing yesterday in federal court in Manhattan.