~GIVE A MAN A GUN HE WILL ROB A BANK; GIVE A MAN A BANK AND HE WILL ROB THE WORLD!~
#JPMorgan #Pays $920 Million, #Admits_Misconduct over #Spoofing | US #Accused Half Dozen Bank Employees in #RIGGING_CONSPIRACY | JPMorgan #Chase & Co. admitted #wrongdoing and #agreed to pay more than $920 million to resolve U.S. authorities’ claims of #market_manipulation in the bank’s #trading of #Metals_Futures and #Treasury_Securities over an #eight_year period, the #largest_sanction ever tied to the #illegal practice known as #Spoofing. Sep. 29, 2020
The #New_York-based #Lender will pay the biggest #monetary_penalty #ever_imposed by the #CFTC, including a $436.4 million #fine, $311.7 million in #restitution and more than $172 million in #disgorgement, according to a statement from the #Commodity_Futures #Trading_Commission.
The accord ends a #criminal_investigation of the bank that has led to a half dozen employees being #charged for allegedly #rigging the #price of #gold and #silver_futures for more than eight years. Two have entered #guilty_pleas, and four others are awaiting #trial.
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