JPMorgan Likely to Face Lawsuit for Precious Metal Spoofing
Zacks Equity Research, February 6, 2020
Per a Bloomberg’s article, JPMorgan Chase JPM is likely to face a criminal lawsuit over rigging precious-metals futures. The authorities that had previously accused six of the bank’s employees of the same misconduct are now planning to charge the company.
The Department of Justice and the Commodity Futures Trading Commission have been investigating the company’s precious metals desk’s trading practices for the past two years.
Comment: This has been going on for decades. The Senate Banking Committee and SEC are complicit. The courts are largely worthless in part because legislation bought and paid for by, among others, Goldman Sachs and Merrilly Lynch has taken federal RICO off the table and also made standing and discovery difficult. The Wall Street system is RIGGED and it is the widows & orphans (pension funds) that are paying for this $100 trillion crime — a license to steal.
