On July 18 of last year, the U.S. Department of Justice indicted two Merrill Lynch precious metals traders, Edward Bases and John Pacilio, charging them each with one count of conspiracy to commit wire fraud affecting a financial institution and one count of commodities fraud each. Pacilio was further charged with five counts of spoofing. […]
Merrill Lynch Caught Criminally Manipulating Precious Metals Market “Thousands Of Times” Over 6 Years…
Remember when it was pure tinfoil-hat conspiracy theory to accuse one or more banks of aggressively, compulsively and systematically manipulating the precious metals – i.e., gold and silver – market? We do, after all we made the claim over and over, while demonstrating clearly just how said manipulation was taking place, often in real time. […]
JPMorgan Faces Potential Class Action Lawsuit After Guilty Pleas by Former Precious Metals Trader…
Traders from across the U.S. are banding together to accuse J. P. Morgan Chase of manipulating precious metals markets for years. At least six lawsuits, all making similar allegations against the nation’s largest bank, have been filed in New York federal court in the past month, since federal prosecutors in Connecticut unveiled a plea agreement […]
Bombshell Dropped in Federal Court: Proof of a Silver Market “Mafia” Among Big Banks…
Lawyers representing traders who allege they were ripped off by a group of colluding global banks filed eye-popping evidence in a Manhattan Federal Court yesterday showing that even as global banks were being criminally probed for rigging currency markets, they continued to engage in rigging the silver market, with a UBS trader referring to the […]