The US Attorney’s Office in Manhattan filed an amended complaint against BNY Mellon that increased the amount of the alleged fraud from hundreds of millions of dollars to $1.5 billion.  BNY Mellon allegedly promised its standing instruction clients the best foreign currency exchange rates of the day but instead gave them the worst and kept the difference as a profit.

Read the entire article, “BNY Accused of $1.5 Billion Fraud in Amended U.S. Complaint”