An “exhaustive” investigation of the silver market by the US Commodities Futures Trading Commission managed to miss serial acts of price manipulation in the gold, silver, platinum, and palladium futures contracts markets. John Edmonds, 36, of Brooklyn, a former JPMorgan precious-metals major bullion trader, admitted he engaged in a six-year ‘spoofing’ scheme from 2009 to 2015 that involved placing orders for precious metals futures contracts with the intent to cancel those orders before execution in order to manipulate prices. He recently plead guilty to commodities fraud, conspiracy to commit wire fraud, commodity price manipulation and spoofing and faces up to 30 years in prison, but is expected to get a lighter sentence. He said that he learned this practice from more senior traders and that his supervisors at the firm knew of his actions.
John Edmonds, 36, pleaded guilty to one count of commodities fraud and one count of conspiracy to commit wire fraud, price manipulation and spoofing.
Edmonds, a 13-year J.P. Morgan veteran, said that he learned how to manipulate prices from more senior traders and that his supervisors at the firm knew of his actions.
John Edmonds, 36, pleaded guilty to one count of commodities fraud and one count each of conspiracy to commit wire fraud, price manipulation and spoofing, according to a Tuesday release from the U.S. Department of Justice. Edmonds spent 13 years at New York-based J.P. Morgan until leaving last year, according to his LinkedIn account.
As part of his plea, Edmonds said that from 2009 through 2015 he conspired with other J.P. Morgan traders to manipulate the prices of gold, silver, platinum and palladium futures contracts on exchanges run by the CME Group. He and others routinely placed orders that were quickly cancelled before the trades were executed, a price-distorting practice known as spoofing.
“For years, John Edmonds engaged in a sophisticated scheme to manipulate the market for precious metals futures contracts for his own gain by placing orders that were never intended to be executed,” Assistant Attorney General Brian Benczkowski said in the release.
Of note for J.P. Morgan, the world’s biggest investment bank by revenue: Edmonds, a relatively junior employee with the title of vice president, said that he learned this practice from more senior traders and that his supervisors at the firm knew of his actions.
Professor Gary Minden told a foreign student who was using an online translation system on a cell phone that the student should “learn English.” Students in the class were offended by the suggestion and Minden has been suspended. Political correctness has run amok.
Caroline Farrow, a British Catholic journalist, is being investigated by the police for “misgendering” someone in a tweet. She was contacted by authorities after making an appearance on “Good Morning Britain,” in which she engaged in a debate with a transgender activist last September.
Writer, Bob Moser, who was employed by the SPLC, published an article in the New Yorker exposing the SPLC as a fundraising scam. Moser says the SPLC’s business model centers around keeping its donors in constant fear using gimmicks such as “hate maps” and “hate lists.”
Israel’s foreign minister says that President Trump is expected to sign an Executive Order to recognize Israel’s sovereignty over the Golan Heights, which is a strategic military area and also provides one-third of Israel’s fresh water. It also is rich in oil.
US Representative Jim Jordan (R-OH) said the dismissal of two key investigators, Andrew Weissmann and Zainab Ahmad, at the start of March may be due to bias as they knew Christopher Steele, the author of the discredited dossier, was “desperate to stop Trump.”
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Heather MacDonald, author of ‘The Diversity Delusion,’ set the record straight about the hysteria over “white supremacy” in America that she says is a fabrication by leftists and is disproven by the statistics. She says there are the same number of reported “hate” crimes today as there were 10 years ago when there were 25 million fewer people in the US.
It is unclear how the new grant restrictions will be enforced, prompting concern from critics that research grants could be stripped from schools that oppose the views and goals of the federal government and the grant-giving agencies, and that research will be micromanaged.
Democrat Andrew Gillum, the Tallahassee mayor who lost the governor’s race by less than half a percentage point, seeks to turn Florida blue by registering new voters, and is targeting 1.4 million former felons in line to have their voting rights restored under a constitutional amendment approved by voters last year.
Milan, Italy: A bus filled with 51 children from a middle school was set on fire by its driver, Ousseynou Sy, a man originally from Senegal but with Italian citizenship. This was done to seek revenge for the migrants who have drowned due to Italy’s blocking migrant boats.
The mass murder of Christians is being censored by Western media, because those who control mainstream media consider Christians to be an obstacle to “progress”. As a result, most Americans do not know that 4,136 Christians were killed for faith-related reasons last year.
Nashville teachers report chaos and violence is overtaking their classrooms after following policies by the Obama administration to reduce the disproportionate number of suspensions for minority students, mostly by keeping kids in school who don’t deserve to be there.
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