Loading ...Another token arrest of small fry, while the real criminals go free.
Never any mention of restitution to the victims.
Where does the millions of $ in fines go? Certainly not to the victims.
I haven’t seen a penny of it, have you?
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This trial has been ignored by financial media
Posted by Buygold @ 6:38 on August 14, 2022
JPMorgan Gold Traders Found Guilty After Long Spoofing Trial | The WealthAdvisor
“The case was the biggest yet in a crackdown by the US Justice Department. Nowak, the managing director in charge of the desk, and Smith, its top trader, were convicted of fraud, spoofing, market manipulation. The government alleged the precious-metals business at JPMorgan was run as a criminal enterprise, though the jury acquitted all three men of a separate racketeering charge.
“They had the power to move the market, the power to manipulate the worldwide price of gold,” prosecutor Avi Perry said during closing arguments.”
Posted by ipso facto @ 10:23 on August 14, 2022
We’ll have to see if anyone goes to jail. I wouldn’t be surprised if they just get a fine … ridiculous as that is.
Posted by Maddog @ 3:34 on August 15, 2022
Re JPM Trial
I cannot fathom why those traders accepted that trial, without shouting from the rooftops….what about the Fed/scum…..the only reason they did not, is of course that they were told not to or etc.
the trial is also an absolute insult to the PM mkt…..and it will not stop until the two tier system is torn apart.