3 JPMorgan Traders Accused Of 8-Year Spoofing Racket
By Jody Godoy (September 16, 2019, 8:34 AM EDT) -- One former and two current traders at JPMorgan Chase have been charged with racketeering conspiracy for an alleged eight-year scheme to manipulate the commodities markets, marking the most severe charges to come out of the U.S. Department of Justice's spoofing probe to date.
The head of JPMorgan's global precious metals desk, Michael Nowak, 45, executive director and trader Gregg Smith, 55, and former JPMorgan trader Christopher Jordan, 47, were all named in a 14-count indictment alleging they essentially turned the bank's metals trading desk into a criminal enterprise between 2008 and 2016 by placing thousands of deceptive commodities orders.
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!