Thursday, February 25, 2021

market manipulation

Morgan Stanley traders fired for mispricing market currency trades and hiding $100 million loss

At least four traders at New York-based Morgan Stanley have been fired or placed on leave after reportedly concealing a loss of between $100 million and $140 million, a new report from Bloomberg News said. The traders in question allegedly...

Another ex-JPMorgan executive charged with alleged market manipulation

The Department of Justice has charged another former JPMorgan Chase & Co executive with alleged racketeering and manipulating precious metals prices between 2008 and 2016, the latest in a string of similar prosecutions. The indictment against Jeffrey Ruffo, who is...

Proprietary trading firm fined record $67.4 million for market manipulation

The U.S. Commodity Futures Trading Commission today issued an order filing and settling charges against Tower Research Capital LLC, a proprietary trading firm, arising from a manipulative and deceptive scheme, spanning nearly two years and involving thousands of occasions of...

Mitsubishi Corporation RtM Japan Ltd. to Pay CFTC $500,000 for Spoofing

The U.S. Commodity Futures Trading Commission today issued an order filing and settling charges against Mitsubishi Corporation RtM Japan Ltd. (RtM Japan) for engaging in multiple acts of spoofing contracts on the New York Mercantile Exchange for platinum and...

Morgan Stanley to pay $1.5 million for misrepresenting share class

Morgan Stanley agreed to pay $1.5 million to the Securities and Exchange Commission to settle charges that it misrepresented its share class selection process made to certain retail retirement and charitable organization brokerage customers. According to the SEC’s order, from...

Morgan Stanley Faces €25m Fine for Market Manipulation

French market regulator accuses Morgan Stanley of manipulating European bond markets to avoid making large losses on its trades. According to FT, the bank’s London trading desk bought futures contracts on French and German debt in June 16 2015, in...

Trading Firm Mitsubishi International Corporation fined $400k for market manipulation in the Precious Metals Futures Markets

The CFTC on Monday, September 30, 2019 issued an order filing and settling charges against Mitsubishi International Corporation for engaging in multiple acts of spoofing on the Commodity Exchange, Inc. markets for silver and gold futures. This conduct occurred between at least...

Morgan Stanley Capital Group Inc. to Pay $1.5 Million fine for Market Manipulation

The CFTC on Monday, September 30, 2019 issued an order filing and settling charges against Morgan Stanley Capital Group Inc. for engaging in spoofing on multiple occasions in the precious metals futures markets from at least November 2013 to November 2014. The order...

Brazil: Former billionaire Eike Batista gets 8-year prison sentence for market manipulation

Brazilian businessman Eike Batista has been found guilty of market manipulation and sentenced to eight years and seven months in prison. The federal court's decision released Monday also includes a fine of 82.8 million reals (nearly $20 million). Batista was once...

J.P. Morgan precious metals traders ran a market manipulation trading desk – Prosecutors

Federal prosecutors on Monday accused three J.P. Morgan precious metals traders, including the global head of base and precious metals trading, of participating in a racketeering conspiracy in connection with a multiyear scheme to manipulate the markets and defraud...

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Chicago political operative Roberto Caldero charged in bribery probe

For decades, Roberto Caldero was an influential behind-the-scenes player in politics at all levels in Chicago and Illinois, with...
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