JPMorgan’s Role in Metals Spoofing Is Under U.S. Criminal Probe
- Investigation said to move to bank parent after traders’ pleas
- Precious-metals desk was racketeering operation, U.S. has said
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U.S. authorities that accused six JPMorgan Chase & Co. employees of rigging precious-metals futures are building a criminal case against the bank itself, two people familiar with the situation said.
The previously unreported investigation of the global bank’s parent company, part of a wide-ranging federal clampdown on market manipulation, raises the prospect of criminal charges and significant fines against America’s largest bank.