47 charged in currency trading investigation

The U.S. Justice Department today charged 47 people with fraud and other criminal offenses in what investigators said was a scheme to make bogus currency trades in the foreign exchange market, according to a published report. Defendants included employees of J.P. Morgan Chase and UBS, among others. Charges include money laundering, conspiracy, securities fraud and wire fraud. Additionally, the SEC also filed separate fraud charges Wednesday against Wall Street currency trader United Currency Group Inc. and Adam Swickle, its CEO.