January 12, 2017 / 7:48 PM / 3 years ago

Foreign exchange dealer pleads guilty to U.S. rate fixing charge

WASHINGTON, Jan 12 (Reuters) - A foreign exchange dealer who specialized in central and eastern European, Middle Eastern and African currencies has pleaded guilty to conspiring to fix currency prices, the U.S. Department of Justice said on Thursday.

The department identified the trader as Christopher Cummins but did not identify his employer other than saying it is a New York-based financial institution.

He is the second trader to admit guilt in the probe. The first was Jason Katz, a former trader at Barclays who later worked at BNP Paribas SA and who pleaded guilty on Jan. 4. (Reporting by Diane Bartz; editing by Grant McCool)

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