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Comment: Former Citigroup trader's malicious-prosecution action in US, now moving forward, shines light on 'cooperating down'

By Richard Vanderford ( March 19, 2021, 20:20 GMT | Comment) -- Citigroup must face a lawsuit from a former foreign exchange trader who has accused the bank of using him as a scapegoat for antitrust charges, a judge said — a decision that draws more attention to a US Justice Department habit that has been informally called "cooperating down." The decision has the potential to bring an unwelcome spotlight on the arguably grubby backroom elements behind high-profile financial crime settlements between banks and the DOJ.Citigroup must face a lawsuit from a former foreign exchange trader who has accused the bank of using him as a scapegoat for antitrust charges, a judge said — a decision that draws more attention to a US Justice Department habit that has been informally called "cooperating down."...

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