JPMorgan Chase Confirmed as Target of Metals Price Rigging Prosecution

By Clint Siegner, Money Metals News Service – Re-Blogged From Headline Wealth

The U.S. Department of Justice investigation of criminal activity in the precious metals markets has taken an interesting new turn.

According to Bloomberg, prosecutors are targeting the bank itself and not just the individual traders involved in rigging prices. If convicted, the bank as an institution could be held accountable for years of structured and pervasive cheating.

The DOJ investigation of JPMorgan’s metals trading desk began more than two years ago. It came on the heels of a guilty plea by Deutsche Bank.

Deutsche Bank copped to spoofing prices and agreed to turn state’s evidence. DB then handed over hundreds of thousands of pages of documents, along with chat logs and voice recordings which featured traders gleefully conspiring with one another to cheat clients and other market participants.

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Exxon Sues the Suers in Fierce Climate-Change Case

By Bob Van Voris – Re-Blogged From Bloomberg Businessweek

  • A ‘conspiracy’ was hatched in La Jolla, Calif., company says
  • Exxon says the suits are violating its free speech rights

As climate-change lawsuits against the oil industry mount, Exxon Mobil Corp. is taking a bare-knuckle approach rarely seen in legal disputes: It’s going after the lawyers who are suing it.

 The company has targeted at least 30 people and organizations, including the attorneys general of New York and Massachusetts, hitting them with suits, threats of suits or demands for sworn depositions. The company claims the lawyers, public officials and environmental activists are “conspiring” against it in a coordinated legal and public relations campaign.

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