Ex-JP Morgan Trader Pleads Guilty to Metals Spoofing, Wire Fraud

[kreslik.news]

A former J.P. Morgan Chase trader charged with participating in a “spoofing” scheme to maximize profits on the precious metals market pled guilty Tuesday in Hartford federal court.

From around 2009 through 2015, John Edmonds conspired with other gold, silver, platinum and palladium traders to place hundreds of buy or sell orders that he intended to cancel and not to execute at the time he placed the orders, a practice known as spoofing.

[url=https://events.financemagnates.com/londonsummit/?utm_source=FM&utm_medium=AUTOLINK&utm_campaign=Article&utm_content=fmls18]Join the Leading Industry Event![/url]

Edmonds, 36, who pleaded guilty to two counts of conspiracy to commit wire fraud, agreed to meet with investigators and has been ... (read more)