David Morgan: Criminal RICO Charges – Real Or Rewind?

RICO indictments are very rare, and this one against the two current and one former JP Morgan gold & silver traders is very interesting…

by David Morgan of The Morgan Report

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The Justice Department charged two JPMorgan Chase & Co. metals traders and a former trader with criminal violations of the Racketeer Influenced and Corrupt Organizations Act for rigging precious metal futures markets over the course of a decade. It’s rare for the DOJ to bring criminal RICO charges. And the DOJ’s Sept. 16 announcement involves a new type of underlying allegation, spoofing.

“Spoofing” is the act of placing an order to buy or sell with no intention to following through on the actual order.

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