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.
President Evo Morales has resigned at the urging of country’s military, following weeks of protest over the October election that the opposition claimed was rigged. Morales, the country’s first indigenous ruler who has been in power for nearly 14 years, claims he was the victim of a “coup” and faced arrest.
Author Heather MacDonald warns of an emergency in the education system that is teaching racism. The West broke away from colonialism and slavery and is responsible for bringing the concept of individual rights to the world. She recommends home schooling children.
The decedent’s mother claims that District Attorney Larry Krasner should be arrested for obstruction of justice because he reduced the charges from first degree murder to third degree murder and then to manslaughter. Mrs. Schellenger said that evidence suppressed.
The professor objected to the school’s ban on hiring straight white males, even if they were the most qualified for the job. In addition, he opposed an applicant to the school, a transgender male, who he said was not believable as Juliet.
The partial removal of the county’s sanctuary policy comes after at least nine illegal aliens had been charged with sex crimes and rape, often against children, in the region over the course of just two months.
The female whistleblower who leaked the video reportedly worked for ABC and later went to work for CBS. She was located and fired. ABC is still silent about who covered up the Epstein story and why. CBS, NBC, MSNBC and CNN are also ignoring the story.
New York City police commissioner James O’Neill resigned, after three years of service, following the city’s new rule eliminating bail and plans to release 900 inmates to New York City streets upon the closing of Riker’s Island penitentiary in January.
The suspects themselves shared the video on social media — all four have been arrested and charged with aggravated robbery. Another robbery by the armed group was also reported on the same day. The mainstream media is ignoring this story.
ABC’s claim that it did not have enough evidence to run the story is fishy as it was only a year ago that the network published wild allegations against Brett Kavanaugh without any corroborating evidence. The corrupt media covers for its political allies, but has destroyed the lives of those who oppose their politics.
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