London — British authorities have arrested Stuart Scott, a former senior HSBC executive accused of participating in a fraudulent scheme involving a $3.5bn currency transaction, according to a US court filing on Thursday. Scott was arrested in Britain on Monday following an extradition request by the US Department of Justice, the document filed with the court by acting US Attorney Bridget M Rohde said. Scott, HSBC’s former head of cash trading for Europe, the Middle East and Africa, was charged in July last year along with Mark Johnson, a British citizen who was HSBC’s global head of foreign exchange cash trading and who was arrested in New York. "Our client strongly denies the allegations. Given there are ongoing proceedings it would be inappropriate to comment further at this time," Anne Davies, a lawyer at Gunnercooke who is representing Scott, said. HSBC said Scott had left the firm in 2014. "We are unable to comment further on personnel issues or matters which are the subject of...
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