NY Post Reiterates King World News Story on JPM Criminal Investigation by Feds for Silver ManipulationSubmitted by Michael Nystrom on Mon, 05/10/2010 - 00:02
A week ago, in two blockbuster interviews, Eric King of King World News broke the story of a possible criminal investigation by the Department of Justice into JP Morgan Chase's involvement in the manipulation of silver prices. King interviewed both Ted Butler and Jim Rickards regarding communications from the DOJ received by one of Butler's subscribers, confirming the DOJ's interest.
A few days later, Rickards mentioned the possible DOJ investigation into JPM on CNBC.
Now the NY Post is reiterating the story that King broke last week:
Federal agents have launched parallel criminal and civil probes of JPMorgan Chase and its trading activity in the precious metals market, The Post has learned.
The probes are centering on whether or not JPMorgan, a top derivatives holder in precious metals, acted improperly to depress the price of silver, sources said.
The Commodities Futures Trade Commission is looking into civil charges, and the Department of Justice's Antitrust Division is handling the criminal probe, according to sources, who did not wish to be identified due to the sensitive nature of the information.
This is just the tip of the iceberg of a huge story. Stay tuned to the Daily Paul & King World News to be the first to hear more on this breaking story.