◆ The DOJ’s indictment said the scheme generated millions of dollars in profits for JPMorgan Chase and caused millions in losses for counter-parties, prosecutors said

◆ JPM precious metals desk chief, Michael Nowak, who was indicted is a JPM managing director and London Bullion Market Association (LBMA) board member

◆ The U.S. DoJ has invoked RICO or Racketeer Influenced and Corrupt Organizations Act racketeering law in charging JP Morgan and racketeering is very rarely used in cases involving large banks

◆ JPM is accused of illegally monopolizing the silver futures market, engaging in “widespread spoofing, market manipulation and fraud” in the gold and silver market and defrauding investors

JPMorgan’s Gold and Silver Desk Was a Criminal Enterprise - U.S. Justice Department