Another JPMorgan Chase & Co. official was charged in the U.S. probe of the bank's precious metals trading operation.
Jeffrey Ruffo, a former JPMorgan executive director on the metals desk in New York who specialized in hedge fund sales, was charged with fraud conspiracy and racketeering conspiracy, according to a superseding indictment made public Friday in federal court in Chicago.
In one instance in January 2012, when a hedge fund client wanted to sell 93,200 ounces of gold, Ruffo alerted JPMorgan traders who then placed deceptive orders to buy gold futures in an attempt to push prices higher, according to the indictment. Ruffo will be arraigned in Chicago on Dec. 5, court documents show. ...
... For the remainder of the report:
https://www.bloomberg.com/news/articles/2019-...metals-probe... * * *
