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Speaker 1: we're watching this morning with Steve Potus in the Bloomberg
Speaker 1: ninety one Washington newsroom. A Treasury Department report criticizing the
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Speaker 1: com Now in other legal news, let's take a look
Speaker 1: at developments in the case of former HSBC foreign exchange
Speaker 1: trader Mark Johnson, who was convicted of fraud for a
Speaker 1: front running a three and a half billion dollar client order.
Speaker 1: For more in the story, Bloomberg lawhost During Grosso speaks
Speaker 1: with the Bloomberg for an exchange report Land and again Lennon,
Speaker 1: how long did the jury deliberated and what did they
Speaker 1: ask for? They deliberated for about two days, um, just
Speaker 1: under two days, I would say, And they asked for
Speaker 1: tapes that Mark Johnson of Mark Johnson and his colleagues
Speaker 1: discussing the trades. Um. So some of these tapes were
Speaker 1: the most sort of incriminating evidence. We hadn't heard him saying,
Speaker 1: I think we got away with it, you know, sort
Speaker 1: of celebrating and swearing on the tapes. And so I
Speaker 1: think those were pretty damning, and I guess they stuck
Speaker 1: out in the jury's mind. Yeah, And the prosecutors certainly
Speaker 1: helped them emphasize that what would a guilty man be
Speaker 1: doing saying this? So Johnson, as we've discussed, a big
Speaker 1: chance in taking the stand in his own defense. The
Speaker 1: verdict means the jury didn't believe him. Wasn't the recordings
Speaker 1: that he had the most difficulty with on the stand.
Speaker 1: I think he was actually very calm and collected on
Speaker 1: the stand. But I think you know what the prosecutors
Speaker 1: said to the jury was, look, this is a different
Speaker 1: guy that you're seeing in person versus the person that
Speaker 1: you hear on the tapes. So I guess the jury
Speaker 1: was not convinced by his sort of calm, collected demeanor
Speaker 1: on the stand. Did he was he able to explain
Speaker 1: away any of the tapes. There was an explanation for everything, really,
Speaker 1: his his lawyers went point by point through all of
Speaker 1: the most damning evidence. They gave an alternative explanation for
Speaker 1: pretty much everything. So it was very comprehensive, very very
Speaker 1: long testimony by the defendant. That's Bloomberg for an Exchange
Speaker 1: reporter Lennon new Yo Yen speaking with Bloomberg during GROSSO.
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