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Silver traders accuse HSBC & JP Morgan of rigging the market
Oct. 29, 2010 04:53PM PST
Silver InvestingIndependent.co.uk reports that HSBC and JPMorgan Chase have been accused to manipulate prices in the silver market.
Independent.co.uk reports that HSBC and JPMorgan Chase have been accused to manipulate prices in the silver market.
The market news is quoted as saying:
HSBC and JPMorgan are among the largest players in the silver market, and they are accused of making hundreds of millions of dollars of illegal profit from violations of anti-monopoly rules. Both of the two suits, filed in the past 48 hours in New York, seek to become class actions, open to everyone who has traded silver, and are seeking damages potentially reaching into billions of dollars.