An example of how the three-card monte works and of the integrity of our Galtian overlords, courtesy of a whistle-blower:
He provided step-by-step details on how the bank allegedly overcharged clients “in a massive foreign exchange fraud” by adding hidden spreads to trades that it executed on their behalf, according to materials provided by Mr. Wilson’s attorneys to Florida’s attorney general, who sued BNY Mellon in August.
When BNY Mellon learned its practices might be scrutinized by investigators, Mr. Wilson alleged, the bank moved to hide its deception by altering its website, removing the words “free of charge” from the description of its foreign currency services.
At one point, Mr. Wilson told prosecutors, the bank was concerned that one client was about to hire someone “smart” . . . .
Read the rest at the Pittsburgh Post-Gazette.