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Three former JPMorgan traders, egg Smith, Michael Nowak, and Christopher Jordan, and one former salesperson, Jeffrey Ruffo have been charged with racketeering conspiracy and other federal crimes over their alleged participation in the precious metals markets manipulation.

JPMorgan and its subsidiaries JPMorgan Chase Bank, N.A. (JPMC), and J.P. Morgan Securities LLC (JPMS) agreed to continue to cooperate with the Fraud Section and the U.S. Attorney’s Office for the District of Connecticut in any ongoing or future investigations and prosecutions as part of the DPA.

Acting Assistant Attorney General Brian Rabbitt of the DOJ's Criminal Division said, “Today’s resolution — which includes a significant criminal monetary penalty, compensation for victims, and requires JP Morgan to disgorge its unlawful gains — reflects the nature and seriousness of the bank’s offenses and represents a milestone in the department’s ongoing efforts to ensure the integrity of public markets critical to our financial system.”

J.P. Morgan Securities agreed to $35 million to settle SEC charges

J.P. Morgan Securities agreed to resolve allegations by the Securities and Exchange Commission (SEC) alleging that it engaged in fraudulent manipulative trading of U.S. Treasury securities for almost a year.

The New York-based broker-dealer, investment adviser, and a wholly-owned subsidiary of JPMorgan consented to the SEC Order requiring it to pay a total of $35 million including disgorgement of $10 million and a civil penalty of $25 million.

“Today’s resolution — which includes a significant criminal monetary penalty, compensation for victims, and requires JP Morgan to disgorge its unlawful gains — reflects the nature and seriousness of the bank’s offenses and represents a milestone in the department’s ongoing efforts to ensure the integrity of public markets critical to our financial system.”

JPMorgan and its subsidiaries settle with CFTC over its alleged massive spoofing

According to the CFTC, JPMorgan, JPMorgan Chase Bank, and J.P. Morgan Securities agreed to pay monetary relief to resolve its allegations against the companies.

The CFTC alleged that JPMorgan and its subsidiaries engaged in deceptive conduct and massive spoofing to manipulate the precious metals and Treasury securities markets to obtain unlawful profits.

The companies agreed to pay $920 million under its DPA with DOJ, which includes a civil monetary penalty of approximately $436.4 million, restitution of around $172 million, and disgorgement of $311.7 million.