WEBVTT - Bloomberg Law Brief: Ex-HSBC FX Trader Convicted (Audio)

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<v Speaker 1>com Now in other legal news, let's take a look

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<v Speaker 1>at developments in the case of former HSBC foreign exchange

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<v Speaker 1>trader Mark Johnson, who was convicted of fraud for a

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<v Speaker 1>front running a three and a half billion dollar client order.

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<v Speaker 1>For more in the story, Bloomberg lawhost During Grosso speaks

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<v Speaker 1>with the Bloomberg for an exchange report Land and again Lennon,

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<v Speaker 1>how long did the jury deliberated and what did they

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<v Speaker 1>ask for? They deliberated for about two days, um, just

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<v Speaker 1>under two days, I would say, And they asked for

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<v Speaker 1>tapes that Mark Johnson of Mark Johnson and his colleagues

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<v Speaker 1>discussing the trades. Um. So some of these tapes were

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<v Speaker 1>the most sort of incriminating evidence. We hadn't heard him saying,

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<v Speaker 1>I think we got away with it, you know, sort

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<v Speaker 1>of celebrating and swearing on the tapes. And so I

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<v Speaker 1>think those were pretty damning, and I guess they stuck

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<v Speaker 1>out in the jury's mind. Yeah, And the prosecutors certainly

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<v Speaker 1>helped them emphasize that what would a guilty man be

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<v Speaker 1>doing saying this? So Johnson, as we've discussed, a big

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<v Speaker 1>chance in taking the stand in his own defense. The

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<v Speaker 1>verdict means the jury didn't believe him. Wasn't the recordings

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<v Speaker 1>that he had the most difficulty with on the stand.

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<v Speaker 1>I think he was actually very calm and collected on

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<v Speaker 1>the stand. But I think you know what the prosecutors

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<v Speaker 1>said to the jury was, look, this is a different

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<v Speaker 1>guy that you're seeing in person versus the person that

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<v Speaker 1>you hear on the tapes. So I guess the jury

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<v Speaker 1>was not convinced by his sort of calm, collected demeanor

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<v Speaker 1>on the stand. Did he was he able to explain

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<v Speaker 1>away any of the tapes. There was an explanation for everything, really,

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<v Speaker 1>his his lawyers went point by point through all of

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<v Speaker 1>the most damning evidence. They gave an alternative explanation for

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<v Speaker 1>pretty much everything. So it was very comprehensive, very very

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<v Speaker 1>long testimony by the defendant. That's Bloomberg for an Exchange

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<v Speaker 1>reporter Lennon new Yo Yen speaking with Bloomberg during GROSSO.

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<v Speaker 1>You can listen U Bloomberg Law week days at one

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