Author Topic: DOJ Accuses JPMorgan's PM Trading Desk Of Being A Criminal Enterprise  (Read 1325 times)

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Offline Libertas

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Well, it takes a criminal enterprise loaded with DeepState operatives to recognize another criminal enterprise...and I'll wager it is not the only criminal enterprise known to them since at least 1913 and the only reason these cases come to light is because of one or both of the following conditions: a) too much time has elapsed since they last prosecuted someone and need to justify their continued existence and b) a crook was too greedy or stupid and made it impossible to pass up a prosecution.

"The defendants and others allegedly engaged in a massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants,"

"Smith, Nowak, Jordan, and their co-conspirators allegedly engaged in a complex scheme to trade precious metals in a way that negatively affected the natural balance of supply-and-demand,"

"While at JPMorgan I was instructed by supervisors and more senior traders to trade in a certain fashion, namely to place orders that I intended to cancel before execution," said one former trader John Edmonds during an October 2018 hearing after pleading guilty to commodities fraud and conspiracy, BBG reports.




"I was instructed that if a client wished to sell futures I should simultaneously place both bids and offers with the intent of canceling the bids prior to execution," Edmonds said during his plea hearing.

I'm shocked, shocked I say to find criminal activity in our trading centers!

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Caveat emptor1,000,000
We are now where The Founders were when they faced despotism.