RBS Forex Trader Paul Nash Arrested before Allegedly Emigrating to Canada

As the criminal investigations of the foreign Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term rigging scandal kicks off, a Westminster Magistrates’ Court hearing held in December has revealed the name of a Royal Bank of Scotland (RBS) trader, who according to sources was arrested just as he was preparing to leave the U.K.

In a Reuters report, the name Paul Nash was connected to an application for immigration to Canada, and allegedly, the arrest happened just days before Mr. Nash was preparing to leave the country.

While RBS revealed in an official announcement last month that six employees had been placed into a disciplinary process, of whom three have been suspended, it also stated that a number of employees are still being assessed in relation to their connection to Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term markets rigging.

Mr. Nash was a British pound forex trader at the RBS and was suspended in the beginning of the investigation process in October last year.

As part of a settlement procedure involving a number of banks which allegedly engaged in foreign exchange rates rigging, RBS parted with $634 million last November after paying fines to US and UK financial regulators.

According to the court records, Mr. Nash wasn’t charged, and was arrested by authorities on suspicion of fraud by abuse of position.

A statement by the U.K. Serious Fraud Office highlights, “We can confirm that a 48-year-old man appeared before Westminster Magistrates’ Court (on 23 December) in relation to the SFO’s ongoing Forex investigation. He remains on police bail in relation to this matter.”