mo4ch:>JP Morgan traders accused of manipulating price of gold, silver for a DECADE, as DoJ tries to look tough on Wall Street | Mo4ch News

Precious metals traders at JP Morgan made millions through fraudulent trades, operating a sprawling criminal conspiracy to manipulate prices, according to the US Justice Department, which appears to be signaling a crackdown.Current and former JP Morgan precious metals traders Gregg Smith, Michael Nowak, and Christopher Jordan engaged in “a massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants,” Assistant Attorney General Brian Benczkowski said in a Justice Department statement released on Monday. The DOJ claimed the bankers made millions of dollars by defrauding other market participants, including some of their own clients, in thousands of illegal trade sequences.Also on rt.comJP Morgan cargo ship released, minus the $1.3 billion worth of cocaine found onboardThe trio allegedly engaged in “spoofing” on a massive scale – placing trades that they intended to cancel before execution in order to manipulate the price of go…