Precious Metals Market Rigger Turns State’s Evidence

Posted on May 14, 2019 3:17 am

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By Clint Siegner

John Edmonds, a former vice president at JPMorgan Chase bank, may be headed to prison for cheating clients and investors. But metals investors can hope it won’t be before he is done helping federal investigators catch even bigger fish.

Edmonds pleaded guilty to spoofing precious metals markets “hundreds of times with the knowledge and consent of his immediate supervisors” last October.

The court delayed sentencing for those crimes again last week, and that is a very good sign.

The move to delay implies that Edmonds is still assisting the Department of Justice’s investigation of other bankers, both