by Clint Siegner, Money Metals:
Department of Justice prosecutors charged a sixth JPMorgan executive for cheating in the precious metals markets.
Jeffrey Ruffo stands accused of racketeering and spoofing metals prices from 2008 – 2016, along with other crimes including conspiracy to commit wire fraud.
The indictment outlines nearly a decade spent coordinating with other traders in JPMorgan’s precious metals department to rig prices. The activity includes thousands of fraudulent trades placed for two purposes.