Glen Point Capital co-founder Neil Phillips urged a federal judge to throw out charges that he tried to manipulate the foreign exchange market, saying
The case attempts to criminalize activity in the FX market that has never been prosecuted before, David Gopstein, a lawyer for Phillips, said at a hearing in Manhattan Tuesday.
Phillips is accused of attempting to drive down the exchange rate between the US dollar and the South African rand on the day after Christmas in 2017 to trigger a $20 million wager on the pairing.
The case …
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