Cleveland Cliffs Inc (CLF)

[Saving Grace]

JP Morgan indicted for CME manipulation! Finally

Not just a fine anymore for these crooked manipulators who have been robbing base metals companies and their respective shareholders.

The criminal indictment against the three JP Morgan traders raises the bar in DOJ enforcement actions alleging spoofing by including a RICO charge. The DOJ claimed that the defendants’ ongoing conduct constituted a “pattern of racketeering activity.” In connection with a RICO indictment, the DOJ has the authority to seek a pretrial order to temporarily seize a defendant’s assets and stop the transfer of potentially forfeitable property. Sometimes solely the threat of seizure in RICO actions prompts defendants to resolve their criminal actions early.

https://www.lexology.com/library/detail.aspx?g=4bf49d4d-1b62-4920-bfb9-f084e660cf1b