Current precious metals traders and one former trader in the New York offices of a U.S. bank were charged in an indictment unsealed for their alleged participation in a racketeering conspiracy and other federal crimes in connection with the manipulation of the markets for precious metals futures contracts, which spanned over eight...
Continue reading…
Category: Market Manipulation
Hackers manipulating stock market with near impunity
On May 14 a Bulgarian is said to have moved the share price of consumer company Avon Products by making a false filing to the Securities and Exchange Commission.
The false Avon filing, which was widely disseminated by the Edgar system and said that a (fictitious) private equity firm called PTG Capital...
Continue reading…
FBI soliciting financial industry whistleblowers to reveal high speed computer stock market manipulation
Bloomberg news has reported that the FBI is openly soliciting stock exchange workers to blow the whistle on front running and manipulation via high speed computers.
So called high frequency stock trading in which firms use sophisticated technological tools and computer algorithms to trade securities in fractions of seconds is considered market manipulation and illegal.
The...
Continue reading…