Another former commercial bank precious metals derivative trader pleaded guilty to manipulating precious metal futures contract prices.
The same leveraged COMEX and NYMEX derivative price discovery contracts that help determine physical gold, platinum, palladium, and silver bullion product prices, day after day.
This most recently guilty precious metal trading traitor, who worked for Bear Stearns and a Scotiabank subsidiary desk, is now in cooperation with a US Justice Department investigation.
The US Department of Justice is also digging into JPMorgan’s ongoing role in manipulating precious metal prices over a similar timeframe. Read the sordid details and conspiracy facts.