“…in connection with work performed on behalf of an investment banking client between at least January 2018 and November 2019, JPMorgan employees, including desk heads, managing directors, and other senior executives sent and received more than 21,000 secu...
Its precious metals trading desk was characterized at the time as a racketeering enterprise by the Justice Department. The DOJ couldn’t bring itself to state the name of the bank where the traders were located, calling JPMo...
Michael Nowak, who ran the precious-metals desk, should get five years, and Gregg Smith, the top trader, should get six years, prosecutors said Tuesday in a sentencing memo to the federal judge in Chicago who presided over their trial. The recommendation was for longer terms than traders at...
JPMorgan Chase, which has retained the same Chairman and CEO, Jamie Dimon, through three guilty pleas to criminal felony counts and is under a new, ongoing criminal probe for turning its precious metals desk into a racketeering enterprise, should have been permanently banned fro...
In his annual shareholders’ letter in 2014, Jamie Dimon, CEO of JPMorgan Chase, said the firm had “nearly 30,000 programmers, application developers and information technology employees who keep our 7,200 applications, 32 data centers, 58,000 servers, 300,000 desk-tops and global network op...
in 2015. It related to JPMorgan’s involvement in a bank cartel that was engaged in rigging foreign exchange trading. The bank is currently under a criminal investigation for allowingits precious metals desk to be turned into a racketeering enterpriseaccording to the Justice Department. Multiple...
(DOJ) over charges of rigging gold, silver and other precious metals markets. Six traders who worked on the precious metals desk at JPMorgan Chase have been indicted thus far but this is the first report that the bank itself is also under a criminal investigation....
JPMorgan Chase and its wily Chairman and CEO, Jamie Dimon, knew that the Justice Department was likely to be making serious charges about its precious metals desk. One of its traders on that desk, John Edmonds, had pleaded guilty to the Justi...
in Chicago have been JPMorgan traders telling a jury that it was standard operating procedure at the bank to rig precious metals markets in order to make huge profits for their trading desk. That case isU.S. v. Smithin th...
years, the bank has admitted to three criminal felony charges brought by the U.S. Department of Justice and is currently underan ongoing criminal probeby federal prosecutors over charges that its traders ran an eight-year criminal enterprise out of its precious metals tra...