Cybersecurity
Ex-HSBC FX Trader Wins Rare U.K. Order Blocking Extradition
- Stuart Scott had been charged with wire fraud by U.S.
- U.S. loses a U.K. extradition fight for second time in 2018
Stuart Scott.
Photographer: Chris Ratcliffe/BloombergThis article is for subscribers only.
Stuart Scott, the former head of currency trading at HSBC Holdings Plc, won a last-ditch battle to block his extradition to the U.S., where he would face wire-fraud charges.
Scott was charged, along with his ex-boss Mark Johnson, by the U.S. Justice Department in July 2016 with front-running a $3.5 billion currency order from Cairn Energy Plc in 2011 that made the bank $8 million. A London judge ordered his extradition in October.