Former J. P. Morgan Traders Convicted of Fraud, Attempted Price . . . A federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase Co (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight years and involved thousands of unlawful trading
Jpmorgan Silver Scandal: Lawbreaking Or Market Manipulation? JP Morgan Chase Co has been accused of using this tactic in the precious metals market, specifically with silver The Commodity Futures Trading Commission (CFTC) ordered JPMorgan to pay a record $920 million for spoofing and manipulating precious metals and U S Treasury futures contracts
How Does JP Morgan Manipulate The Silver Market? Spoof Incident A: The JP Morgan spoof incident refers to a case where JP Morgan Chase Co got involved in alleged price manipulation in the silver futures market Two former precious metals traders at JPMorgan were accused by the Justice Department of placing deceptive orders that affected the silver price
Silver Manipulation Explained - Gold Price Forecast As a reminder, JP Morgan is an LBMA market maker and it’s additionally responsible (with other banks) for clearing silver transactions, so it must engage in the silver market But it doesn’t mean that it’s able to permanently suppress silver prices
Suppressing Silver Prices Has Been Official U. S. Policy Since 1965 After SLV was founded, complaints that JPMorgan Chase was manipulating the silver market grew loud enough that the bank felt obliged to answer them publicly First, the bank's CEO, Jamie Dimon, said the bank had no interest of its own in the monetary metals and traded them only for clients
JP Morgan and HSBC Face RICO Charges in Silver Futures Class Action . . . NEW YORK – JP Morgan Chase Co (NYSE: JPM) and HSBC Securities Inc (NYSE: HBC) face charges of manipulating the market for silver futures and options in violation of federal commodities and racketeering laws, according to a new lawsuit filed Tuesday in the U S District Court for the Southern District of New York