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A U.K. court jailed two London-based traders Friday for conspiring to defraud Russian lender Otkritie FC Bank of $175 million before laundering the proceeds through overseas accounts held under the names of offshore shell companies. The 4-month trial covered details of how former Otkritie Securities broker Georgy Urumov and colleagues embezzled some $150 million from his firm in 2011 by tricking it into paying four times the market value of Argentinian sovereign bonds with the aid of falsified exchange-rate records. An additional $25 million was obtained through a separate "sign-on" fee deception. Urumov and colleagues browbeat compliance officers and risk...