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In addition to the indictments against JPMorgan executive for rigging prices in the precious metals market, their employees are also facing charges on riging currency prices too! One more convicted today!
#ButNothingsHappening
Using a variety of communications to collude with other traders to get prices where they wanted them on currency trades.
This is a continuation of the cases where Citicorp, JPMorgan, Barclays & Bank of Scotland plead guilty in 2015 & BNP Paribas plead guilty in 2018.
Following the DOJ guilty pleas, other agencies have pursued the banks & fined them also. Forcing cooperation & the provision of more receipts!
15 banks also face similar charges for rigging currency markets in Brazil using the same techniques.
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