Markets
AS nothing is ever done about this non problem.. regulatory assholes
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JPMorgan Traders Charged by U.S. With Rigging Metals Deals
By Tom Schoenberg
September 16, 2019, 7:26 AM EDT Updated on September 16, 2019, 8:51 AM EDT
Two current, one ex-trader indicted in racketeering probe
Head of global precious metals desk Nowak charged in case
Two current and one former precious metals traders at JPMorgan Chase & Co. were charged with manipulating futures markets in what prosecutors described as a massive, multiyear racketeering conspiracy run out of the bank.
The U.S. Justice Department said the three men ripped off market participants and even clients as they illegally moved prices for gold, silver, platinum and palladium. One of those indicted is Michael Nowak, 45, who ran JPMorgan’s global precious metals desk. Nowak was placed on leave last month, a person familiar with the matter has said.
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