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Commodities Briefing - Categorized | Bullion/Gold, Trading more

Further silver drama as traders sue JPMorgan, HSBC

Posted on 29 October 2010

From Ibtimes.com: In the wake of Commodity Futures Trading Commission member Bart Chilton’s?announcement that the group had found fraud in the silver futures market, a pair of traders have filed suits against two investment banks, alleging that they helped conspire to suppress the price of silver.
The suit filed by commodity traders Peter Laskaris and Brian Beatty alleges that, while controlling over half of the total short positions - bets that the price of an asset will fall - HSBC?and JPMorgan Chase worked together to let each other know about major trades and placed “spoof” orders.?………………………………………Full Article: Source


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VRS - who has written 36199 posts on Opalesque Commodities Briefing.


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