Tag: Dodd-Frank Act
Michael Nowak and other J.P. Morgan Traders Convicted of Fraud, Attempted Price Manipulation, Spoofing in Multi-Year Market Manipulation Scheme
August 10, 2022
Aug 10, 2022. A federal jury in the Northern District of Illinois convicted two former precious metals traders at JPMorgan Chase & Co. (JPMorgan) today of fraud, attempted price manipulation, and spoofing in a multi-year market manipulation scheme of precious metals futures contracts that spanned over eight years and involved thousands of unlawful trading sequences. According to court documents and evidence presented at trial, Gregg Smith, 57, of Scarsdale, New York, was an executive director and trader on JPMorgan’s precious…