Katz`s plea came after Barclays and three other banks pleaded guilty last year to conspiring to manipulate foreign exchange prices. Barclays has agreed to pay $2.4 billion to solve the associated U.S. and British probes. Following a request from the Department of Justice (DOJ) to refer to the guilty pleas of some of the world`s major banks in the trial of former currency brokers known as the FX cartel or mafia FX, Judge Richard M. Berman of the New York Southern District Court today sided with the U.S. government. As part of his plea, Mr. Katz agreed to cooperate with the Department of Justice in the ongoing investigation. He also secured an agreement announced by the Federal Reserve Board that would ban him from the banking sector. In July, HSBC Holdings Plc HSBA. Mark Johnson, director of L, was arrested and indicted along with a former executive for participating in a fraudulent scheme that had pursued a $3.5 billion monetary transaction. Johnson has pleaded not guilty. NEW YORK (Reuters) – A former Barclays Plc BARC.

The trader pleaded guilty Wednesday to U.S. charges of a global investigation into currency manipulation at major banks, the U.S. Department of Justice said. The guilty pleas of Barclays PLC, Citicorp, J.P. Morgan Chase and Co., The Royal Bank of Scotland plc and UBS AG could be used during the trial of former forex dealers, Judge Richard M. Berman said. A fifth bank, UBS Group AG UBSG. S, pleaded guilty to manipulating benchmark interest rates. The five banks will be sentenced Thursday in federal court in Connecticut. In addition to Barclays, other banks that had pleaded guilty to the currency investigation in May 2015 included a unit of Citigroup Inc C.N., JPMorgan Chase and Co JPM. N and Royal Bank of Scotland Group PLC RBS.L.

Jason Katz, a former Barclays trader who later worked at BNP Paribas SA BNPP. PA, pleaded guilty in Manhattan Federal Court to participating in a price-fixing conspiracy, as the first person to admit criminal misconduct in the investigation. In May 2015, Barclays PLC, Citicorp, J.P. Morgan Chase and Co., The Royal Bank of Scotland plc and UBS AG entered into separate arguments with the US Department of Justice.