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939 F.3d 82 *; 2019 U.S. App. LEXIS 27478 **; 2019 WL 4308625
UNITED STATES OF AMERICA, Appellee, v. MARK JOHNSON, Defendant-Appellant.1
Subsequent History: Corrected by, Decision reached on appeal by, Motion granted by United States v. Johnson, 945 F.3d 606, 2019 U.S. App. LEXIS 37049 (2d Cir., Sept. 12, 2019)
Prior History: [**1] Mark Johnson, the former global head of the foreign exchange trading desk at the investment bank HSBC, was convicted by a jury of wire fraud and conspiracy to commit wire fraud in connection with a foreign currency exchange transaction with Cairn Energy. At trial, the Government argued, among other things, that Johnson denied Cairn the right to control its assets by depriving it of information necessary to make its own discretionary economic decisions Johnson argues that there was insufficient evidence for a reasonable jury to convict him under a right-to-control theory because Cairn received the benefit of its bargain in the transaction and any misrepresentations Johnson may have made were immaterial. We conclude that there was sufficient evidence to convict Johnson on the right-to-control theory because a reasonable jury could conclude that his misrepresentations to Cairn related to the price of the transaction and were capable of influencing Cairn's decisionmaking.
United States v. Johnson, 2018 U.S. Dist. LEXIS 71257 (E.D.N.Y., Apr. 26, 2018)
misrepresentations, Fixing, wire fraud, pounds, bargain, convict, exchange rate, ramp, currency, buy, fix rates, influencing, trading, right-to-control, pips, reasonable jury, misappropriation, depriving, quotation, marks, sufficient evidence, essential element, fraudulent intent, decisionmaking, colleague, defraud, dollars, execute, hourly, notice
Criminal Law & Procedure, Standards of Review, Substantial Evidence, Sufficiency of Evidence, Fraud, Wire Fraud, Elements, Constitutional Law, Fundamental Rights, Procedural Due Process, Scope of Protection