Ex-JPMorgan Traders Convicted in Federal Fraud Trial


A federal jury in Chicago convicted two former merchants of JPMorgan Chase & Co.’s valuable metals desk who had been charged with manipulating gold costs, discovering they used deceptive orders to rig costs.

The convictions are the capstone of a seven-year Justice Division marketing campaign to punish a method of misleading buying and selling in futures markets generally known as spoofing. The rapid-fire technique was prevalent at some Wall Avenue banks earlier than Congress outlawed spoofing in 2010, and continued even after its prohibition, based on prosecutors. JPMorgan paid $920 million in 2020 to settle regulatory and prison costs towards the financial institution over the merchants’ conduct.


Please enter your comment!
Please enter your name here

Share post:




More like this

Prince William’s Godmother Spotted With Royal Family For 1st Time Since Racism Scandal!

Effectively, this ousting didn’t final lengthy! Woman Susan Hussey...

UK’s Soft Drink Taxes Help Curb Obesity in Girls!

There's robust proof that the consumption of sugar-sweetened...

Nicolle Wallace Devastates Trump And Shows Why Him Taking The 5th Matters

MSNBC’s Nicolle Wallace performed a round-up of investigators...