JPMorgan’s gold traders cheated other market players for years by “spoofing trades” or manipulating the price of precious metals to boost their profits, a former employee testified to a Chicago federal jury Tuesday.
“Our job was to do whatever it takes to make money,” former trader John Edmonds said in a court case accusing three of his former colleagues of committing systematic fraud. “Everyone at the time did it on the desk and it worked.”
Maybe the Singapore MAS would like to look into the trading habits of old Pierpont