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An estimated trading loss of $2 billion was announced. However, the loss amounted to more than $6 billion for JPMorgan Chase. [2] [3] These events gave rise to a number of investigations to examine the firm's risk management systems and internal controls. JPMorgan Chase agreed to pay $920 million in total fines to US and UK authorities.
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A former JPMorgan Chase & Co <JPM.N> foreign exchange trader was sentenced on Thursday to eight months in prison, following his Nov. 2019 conviction for conspiring with traders at other banks to ...
When the U.S. Department of Justice charged a handful of JP Morgan Chase & Co traders in 2018 and 2019 with alleged commodities futures manipulation, it wasn't the first time the government had ...
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The arrest of a former RBS trader took place in Billericay, Essex, and was conducted by the City of London Police and the Serious Fraud Office. [30] Several traders have been incarcerated for market manipulation in recent years. The longest conviction was that of Tom Hayes; Hayes, a British citizen and ex-UBS trader, received a 14-year sentence ...
Andrew Maguire is a British commodities trader and whistleblower. He presented evidence to United States regulators alleging that fraud had been committed, and that prices in the international gold and silver markets had been manipulated. No regulatory or legal action has been taken as a result of his accusations.
In 2023, 80% of such fraud took place in the Americas, according to the report. JP Morgan filed additional lawsuits in Miami and the Central District of California Monday. Chase alleges a ...