08-14-2018, 11:34 PM
The criminal prosecutions of individual traders are separate from the banks agreement to pay a fine. How do you know none of these people have or will go to jail? This case has been going for five years and has had many parts to it, this big fine announced today is just the latest chapter.
https://www.reuters.com/article/us-rbs-s...SKBN1CV2QD
Adam Siegel, RBS’ former co-head of U.S. ABS, MBS and CMBS trading, and Matthew Katke, a former RBS trader, both pleaded guilty in 2015 to conspiracy to commit securities fraud and have been cooperating with the government.
Of the eight traders who were criminally charged, two were convicted, two were acquitted of various charges, three pleaded guilty and one pleaded not guilty. Two other traders were also hit with civil charges.
https://www.reuters.com/article/us-rbs-s...SKBN1CV2QD
Adam Siegel, RBS’ former co-head of U.S. ABS, MBS and CMBS trading, and Matthew Katke, a former RBS trader, both pleaded guilty in 2015 to conspiracy to commit securities fraud and have been cooperating with the government.
Of the eight traders who were criminally charged, two were convicted, two were acquitted of various charges, three pleaded guilty and one pleaded not guilty. Two other traders were also hit with civil charges.