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Ex-JPMorgan Trader Objects To SDNY Zip Codes As Evidence In Re-Opened Case Against Him

By Matthew Russell Lee, Patreon
Honduras - The Source - The Root - etc

SDNY COURTHOUSE, Nov 12 –  Akshay Aiyer, formerly of JPMorgan, is standing trial for bid rigging and price fixing with regard to the Russian ruble and other currencies in violation of the Sherman Act.

    But somehow the prosecutors forgot, before closing their case, to prove venue: that acts occurred in the Southern District of New York.

   And so SDNY Judge John G. Koeltl on November 14 gave them a break to find a zip code map, and they did. Aiyer's lawyer Martin Klotz of Wilkie Farr said he did not object to Judge Koeltl taking judicial notice of the map. But he did object to the government re-opening its case to get the evidence in.

   Judge Koeltl overruled the objection, saying that it is within his sound discretion to allow the re-opening of the government's case particularly if there was, as here, no prejudice.

    Except that due to the government's omission, Aiyer might have gone free?

  His Rule 29 motion was denied by Judge Koeltl without prejudice to be renewed. In an oral ruling Judge Koeltl distinguished then-District Judge Walker's decision in APEX Oil; he rejected the argument that the trader was only trying to help his client.

  Price fixing and rig bidding, amended by Judge Koeltl to bid rigging, are per se violations of the Sherman Act.

   If Aiyer is convicted, expect to see the zip codes and the decision to allow the government to re-open its case to get them into evidence in an appeal. The case is US v. Aiyer, 18-cr-333 (Koeltl).

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