Ex-JPMorgan gold trader sentenced to six months in ‘spoof’ case
Mining News Pro - A former JPMorgan Chase & Co. gold trader was ordered to serve six months behind bars for a fraud conviction tied to deceptive orders, the last criminal penalty imposed in a years-long spoofing saga at the bank.
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Visit: 206
JPMorgan’s ‘most prolific spoofer’ gets two years in prison
Mining News Pro - JPMorgan Chase & Co.’s former chief gold trader was ordered to spend two years in prison for spoofing, fraud and attempted market manipulation, the stiffest sentence handed down yet in a recent government crackdown on questionable trading practices.
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Visit: 172
JPMorgan sees gold price charging to records in 2024 as Fed cuts rates
Mining News Pro - JPMorgan Chase & Co. sees an opportunity in gold ahead of a likely US recession, predicting prices will push past $2,000 an ounce by year-end and hit fresh records in 2024 as interest rates start to fall.
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Visit: 181
Ex-JPMorgan gold traders ask for no prison time in spoofing case
Mining News Pro - JPMorgan Chase & Co.’s former precious-metals desk head and his top gold trader asked to be spared prison sentences for spoofing.
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Visit: 213
JPMorgan helps MineSense raise $42m to close copper gap
Mining News Pro - The privately-held firm specializes in data-driven solutions that improve ore grade control, operational profitability and carbon intensity across the metals mining industry, with focus on the copper sector.
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Visit: 370
JPMorgan gold traders found guilty in Chicago spoofing trial
Mining News Pro - The former head of the JPMorgan Chase & Co. precious-metals business and his top gold trader were convicted in Chicago on charges they manipulated markets for years, handing the US government a win in its long crackdown on bogus “spoofing” orders.
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From profits to pay, JPMorgan’s gold secrets spill out in court
Mining News Pro - The trial of JPMorgan Chase & Co.’s former head of precious metals has offered unprecedented insights into the trading desk that dominates the global gold market.
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Visit: 560
JPMorgan’s gold ‘boss’ led group plot to spoof prices, jury told
Mining News Pro - Michael Nowak was “the boss” of a plot at JPMorgan Chase & Co. to manipulate gold and silver prices and worked with the top trader and salesman on the bank’s precious metals desk to “spoof” markets with bogus buy and sell orders, a federal prosecutor told jurors in Chicago.
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Visit: 470
JPMorgan spoofing cheated gold market
Mining News Pro - JPMorgan Chase & Co.’s gold trading and sales team was so focused on making money that they scammed the market for years with so-called spoofing trades, according to a former colleague who testified at the trial of three former bank employees charged with fraud.
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JPMorgan’s ‘big hitters’ of gold market face trial over spoofing
Mining News Pro - Michael Nowak was once the most powerful person in the gold market.
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Visit: 647
JPMorgan says be ready for 40% commodities rally in market shift
Mining News Pro - Commodities could surge by as much 40% — taking them far into record territory — should investors boost their allocation to raw materials at a time of rising inflation, according to JPMorgan Chase & Co.
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JPMorgan reviewing commodity exposure after nickel chaos
Mining News Pro - JPMorgan Chase & Co. is reviewing its business with some commodity clients after last month’s nickel short squeeze, a move that threatens to drain more liquidity out of the sector.
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Visit: 856
Nickel tycoon closes in on JPMorgan-led loan to backstop short
Mining News Pro - Banks led by JPMorgan Chase & Co. are in advanced talks for a loan facility to backstop Xiang Guangda’s short position in nickel, in an attempt to restore stability to the market after an unprecedented squeeze.
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Visit: 403
JPMorgan admits spoofing by 15 traders
Mining News Pro - JPMorgan Chase & Co. admitted wrongdoing and agreed to pay more than $920 million to resolve U.S. authorities’ claims of market manipulation involving two of the bank’s trading desks, the largest sanction ever tied to the illegal practice known as spoofing.
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JPMorgan stops lending to coal companies
Mining News Pro - JPMorgan Chase will no longer lend to coal companies, and will limit financing to companies drilling in the arctic, the company announced Tuesday at its annual investor day in San Franciso.
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Visit: 558
US appeals court revives aluminum antitrust cases vs Goldman, JPMorgan, Glencore
Mining News Pro - A federal appeals court on Tuesday revived lawsuits by aluminum purchasers that accused Goldman Sachs, JPMorgan Chase, mining company Glencore and other companies of conspiring to drive up prices for the metal by reducing supply.
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Visit: 1320