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2 Russians indicted in currency manipulation scheme on Globex Twin brothers who live in Russia have been indicted on federal fraud charges of attempting to make a $7.2 million profit through manipulative trades in Russian ruble and British pound currency futures using Chicago-based CME Group’s Globex electronic trading platform.In 2010, they allegedly tried to make corresponding buy and sell trades within seconds of each other using two different futures commission merchants in Chicago. They tried to get profits from one, Velocity LLC, while not paying a slightly bigger loss to another, Open E Cry LLC. http://www.chicagotribune.com/business/breaking/chi-2-russians-indicted-in-currency-manipulation-scheme-on-globex-20121019,0,1867987.story

2 Russians indicted in currency manipulation scheme on Globex

Twin brothers who live in Russia have been indicted on federal fraud charges of attempting to make a $7.2 million profit through manipulative trades in Russian ruble and British pound currency futures using Chicago-based CME Group’s Globex electronic trading platform.

In 2010, they allegedly tried to make corresponding buy and sell trades within seconds of each other using two different futures commission merchants in Chicago. They tried to get profits from one, Velocity LLC, while not paying a slightly bigger loss to another, Open E Cry LLC.

http://www.chicagotribune.com/business/breaking/chi-2-russians-indicted-in-currency-manipulation-scheme-on-globex-20121019,0,1867987.story