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JPMorgan’s metals desk was a criminal enterprise, say prosecutors

Washington | The US Department of Justice charged two current and one former JPMorgan Chase & Co executives on Monday with alleged racketeering and manipulating prices of metals such as gold, silver, platinum and palladium between 2008 and 2016.

The charges came from an "ongoing" investigation into alleged fraudulent trading practices at JPMorgan that generated "millions of dollars in profit" for the bank and "tens of millions of dollars of losses" for its customers, said Brian Benczkowski, an assistant attorney general.

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Reuters

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    Original URL: https://www.afr.com/markets/commodities/jpmorgan-s-metals-desk-was-a-criminal-enterprise-say-prosecutors-20190917-p52s0y