Anonymous ID: c260d5 Feb. 5, 2020, 8:30 a.m. No.8035334   🗄️.is đź”—kun

Pegasus Airlines Boeing 737 Crash-Lands At Istanbul Airport

 

Between the coronavirus and the number of planes that seem to be falling out of the sky these days, the blowback on the airline industry might be even more severe than Wall Street fears (analysts at Jeffries expect Cathay Pacific to take a big hit during H1 before bouncing back in H2).

 

But to the list of recent plane crashes and near-miss incidents, we can add a Boeing 737 run by Pegasus Airlines, which crash-landed at Istanbul's Sabiha Gokcen Airport on Wednesday. Video showed the fiery wreckage. Though the scene looks bad, local press just reproted that all 177 passengers and 6 crew members were safely evacuated after the plane skidded off the runway.

 

Sabiha Gökçen Havaalanı..

 

Pist dışına çıkan bir uçak yanıyor. pic.twitter.com/RzzJR8lwV9

— . (@OlaCak_OlaCak34) February 5, 2020

 

The incident mirrors another shocking near-miss one month ago. On Jan. 7, a Pegasus Airlines Boeing 737-800 overshot the runway at Sabiha Gokcen while landing a flight from Sharjah during less-than-favorable conditions. All 169 passengers were safely evacuated, with no serious injuries.

 

A B737-800 aircraft belonging to Pegasus Airlines (reg. TC-CCK) had overran the runway after landing in Istanbul Sabiha Gokcen Airport. The plane was operating the flight from Sharjah. All of the 169 passengers were evacuated safe without any injuries or casualities. pic.twitter.com/NCYNkNq7Kg

— HavArenaMedya (@HavArenaMedya) January 7, 2020

 

That accident forced a temporary shut-down of Istanbul's main airport.

https://www.zerohedge.com/geopolitical/pegasus-airlines-boeing-737-crash-lands-istanbul-airport

Anonymous ID: c260d5 Feb. 5, 2020, 9:01 a.m. No.8035630   🗄️.is đź”—kun   >>5636 >>5663 >>5699 >>5721 >>5729

JPMorgan’s Role in Metals Spoofing Is Under U.S. Criminal Probe

 

U.S. authorities that accused six JPMorgan Chase & Co. employees of rigging precious-metals futures are building a criminal case against the bank itself, two people familiar with the situation said.

 

The previously unreported investigation of the global bank’s parent company, part of a wide-ranging federal clampdown on market manipulation, raises the prospect of criminal charges and significant fines against America’s largest bank.

 

No formal accusations have been made against JPMorgan. A bank spokeswoman, Jessica Francisco, declined to comment and pointed to company filings from last year disclosing that the Justice Department’s Criminal Division was investigating “trading practices in the metals markets and related conduct.”

 

How the probe proceeds from here is likely to be watched closely. Relatively few big-bank prosecutions have come to light during the Trump administration, compared with a spate of big penalties and guilty pleas for banks under President Barack Obama. The Justice Department declined to comment.

 

Investigators at the Justice Department and the Commodity Futures Trading Commission are at least two years into their examination of trading on JPMorgan’s precious metals desk, one of the people said. U.S. authorities have already charged bank traders who worked in New York, London and Singapore with manipulating thousands of orders for gold and silver futures to benefit the bank and its major hedge fund clients.

 

Their campaign of manipulation and spoofing – placing orders and then canceling them to trick other market participants – spanned a decade, prosecutors said. Although other suspected market cheats have been charged with specific spoofing and manipulation offenses, the Justice Department accused JPMorgan metals traders under the so-called RICO statute – a criminal racketeering law more commonly applied to mafia cases than global bank probes.

 

Authorities are conducting a similar racketeering investigation of a second financial firm involving spoofing, according to a third person familiar with the matter.

 

RICO allows for prosecutors to charge multiple criminal acts involving a group of people in the same case as long as they were part of the same enterprise. The Justice Department said the racketeering conspiracy on the JPMorgan metals desk ran between March 2008 and August 2016. Two former metals traders for the bank have pleaded guilty to fraud charges and are cooperating with authorities.

 

Among those fighting charges are Michael Nowak, who remained active as the global head of JPMorgan’s precious metals desk until he was indicted under seal in August.

 

After the arrest of Nowak and two others in September, Assistant Attorney General Brian Benczkowski said investigators would “follow the facts wherever they lead, whether it’s across desks here or at any other bank or upwards into the financial institution.”

 

Despite the charges against several individuals over precious-metals trading, the Justice Department hasn’t announced any criminal charges against big banks.

https://www.bloomberg.com//news/articles/2020-02-05/jpmorgan-s-role-in-metals-spoofing-is-under-u-s-criminal-probe

 

JP Morgan is Bank "A" in the original DOJ filing late last year.