Following a frantic trading session in December 2017, Glen Point Capital co-founder Neil Phillips was recently arrested, accused of multiple counts of fraud. According to a US indictment, the goal of Phillips’s trading was to drive the exchange rate between the US dollar and the South African rand below 12.50 in order to make a $20 million wager succeed. In a recent Bloomberg article, Principal and Co-Leader of Brattle’s global Antitrust & Competition practice Dr. Rosa Abrantes-Metz was quoted, noting that proving market manipulation is very difficult and there may be defenses that Phillips is able to offer.

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