Jury Convicts Hedge-Fund Manager Accused of Rigging Foreign-Exchange Market

A London hedge-fund manager accused of manipulating the foreign-exchange market was convicted Wednesday of fraud in a trial that opened a window into a complex corner of the global currency-trading business.

A federal jury in Manhattan deliberated for less than a day before finding Neil Phillips guilty of commodities fraud. The jury acquitted Phillips, the former chief investment officer of Glen Point Capital, of a separate conspiracy charge.

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