In 2022, a federal jury convicted JPMorgan's former head of precious metals trading and two colleagues of racketeering, conspiracy, and market manipulation (spoofing) spanning 2008-2016. JPMorgan had previously paid $920 million in fines. Prosecutors proved traders placed thousands of fake orders to manipulate gold, silver, platinum, and palladium prices. The DOJ called JPMorgan's precious metals desk 'a criminal enterprise within the bank.'
JPMorgan traders systematically manipulated gold and precious metals markets for years — convicted in 2022
“The gold market is rigged. JPMorgan and other banks are manipulating precious metals prices through spoofing and fake orders.”
📄 The Receipts
⚖️ The Record, Side by Side
What they said vs. what the evidence shows
“JPMorgan maintains robust compliance programs. Our trading activities are conducted in accordance with all applicable laws and regulations.”
— JPMorgan Compliance Department · Jan 2015
🙈 They Laughed At Us
“JPMorgan maintains robust compliance programs. Our trading activities are conducted in accordance with all applicable laws and regulations.”
⏳ The Vindication Timeline
From “crazy” to confirmed
The Claim Is Made
This is the moment they called it crazy.
Confirmed: They Were Right
The truth comes out. Officially documented.
Confirmed: They Were Right
The truth comes out. Officially documented.
📊 How Right We Were
The People Speak(63)
No one's said anything yet. Be the first to drop your take.
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