Banking criminals being exposed

Donald Turnbull, a former Global Head of Precious Metals Trading at JPMorgan Chase, has filed a doozy of a federal lawsuit against the bank. Turnbull worked on the same JPMorgan Chase precious metals desk that was deemed to be a racketeering enterprise by the U.S. Department of Justice when it handed down indictments in 2019. This was the first time that veterans on Wall Street could recall employees of a major Wall Street bank being charged under the Racketeer Influenced and Corrupt Organizations Act or RICO statute, which is typically reserved for organized crime.

Turnbull’s lawsuit, filed earlier this month in the federal district court for the Southern District of New York, alleges that the bank trumped up false charges against Turnbull as a pretext to terminate him when it was actually terminating him for cooperating with the Department of Justice’s investigation.

The crime culture at JPMorgan Chase has another distinction. As far as we are aware, it is the only major bank on Wall Street to be compared to the Gambino crime family in a book authored by two trial attorneys.

But despite the unprecedented and recurring pattern of crime at JPMorgan Chase, neither the bank’s federal regulators nor its Board of Directors has seen fit to dismiss Jamie Dimon without health benefits, severance or unvested stock awards. Instead, the Board has made Dimon a billionaire while they are also richly rewarded.

https://wallstreetonparade.com/2021/04/a-traders-federal-lawsuit-against-jpmorgan-chase-offers-a-window-into-the-crime-culture-at-the-five-felony-count-bank/