
Three former JPMorgan Chase & Co (JPM.N) employees were acquitted of racketeering and conspiracy charges in a landmark precious metals manipulation trial on Wednesday, although former head of the JPMorgan Chase & Co. precious-metals business and his top gold trader were convicted on charges they manipulated (spoofed) the markets for years.
Spoofing involves placing and then quickly canceling orders to falsely create the impression of high demand or supply. The defendants were accused of using the tactic to manipulate futures on precious metals futures between 2008 and 2016.
While this can be hailed that the convictions send a clear signal that Wall Street executives may not be above the law, it certainly underscores the fact that banks get away with a slap on the wrist.
Let David’s Passion Create Your Wealth.
I’ve Been Helping My Subscribers Weather the Current Economic Mess. Now I Invite You to Join My Growing Circle of Successful Investors.
The Morgan Report is all about YOU and how you can build and preserve Wealth for generations to come. We know it can sometimes seem a daunting task to protect your assets and preserve or grow your wealth. Over 15 years ago, a small group of us started The Morgan Report and formed an exclusive membership organization to promote personal freedom, an honest money system, free market wealth accumulation, and asset protection.
Thus was born The Morgan Report – since then we’ve helped 11,000-plus members scattered over the globe in every continent and over 100,000+ e-newsletter subscribers have read our weekly e-newsletter — This Week’s View from The Morgan Report.
Through our publication, The Morgan Report, we provide you with ways to achieve greater financial security and wealth in all sorts of environments.
To Gain More of David’s Insights click Here
Great Pacific Gold Corp. (TSX-V: GPAC) (OTCQX: FSXLF) (FSE: V3H)... READ MORE
Big Blue highlights: 0.6 meters grading 0.7% Cu, 3,194 g/t Ag and... READ MORE
Goldshore Resources Inc. (TSX-V: GSHR) (OTCQB: GSHRF) (FSE: 8X00)... READ MORE
Dios Exploration Inc. (TSX-V: DOS) is pleased to report it has e... READ MORE
Highlights: Recent drilling at West Goodspeed supports the presen... READ MORE