| Ex-JPMorgan Trader Objected
To SDNY Zip Codes Now Gets 8 Months for ForEx
Rigging
By Matthew
Russell Lee, Patreon
Honduras
- The
Source - The
Root - etc
SDNY COURTHOUSE,
Sept 17 – Akshay Aiyer,
formerly of JPMorgan, was
standing trial back in
November 2019 for bid rigging
and price fixing with regard
to the Russian ruble and other
currencies in violation of the
Sherman Act.
But somehow the prosecutors
forgot, before closing their
case, to prove venue: that
acts occurred in the Southern
District of New York.
And
so SDNY Judge John G. Koeltl
on November 14, 2019 gave them
a break to find a zip code
map, and they did. Aiyer's
lawyer Martin Klotz of Wilkie
Farr said he did not object to
Judge Koeltl taking judicial
notice of the map. But he did
object to the government
re-opening its case to get the
evidence in.
Judge Koeltl overruled the
objection, saying that it is
within his sound discretion to
allow the re-opening of the
government's case particularly
if there was, as here, no
prejudice.
Except that due to the
government's omission, Aiyer
might have gone free?
His Rule
29 motion was denied by Judge
Koeltl without prejudice to be
renewed. In an oral ruling
Judge Koeltl distinguished
then-District Judge Walker's
decision in APEX Oil;
he rejected the argument that
the trader was only trying to
help his client.
Price
fixing and rig bidding,
amended by Judge Koeltl to bid
rigging, are per se violations
of the Sherman Act.
For
the record, the zip codes
entered into evidence were
10019, 10013 and 10167. Judge
Koeltl went online to verify
they are in Manhattan.
Aiyer was convicted, and on
September 17 appeared for
sentencing with a guideline of
37 to 46 months. Judge Koeltl
imposed a sentence of ...
eight months. This is the
SDNY.
The case is US
v. Aiyer, 18-cr-333
(Koeltl).
***
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