Michael Nowak, the global head of trading for both base and precious metals at JPMorgan Chase, has been charged by the US Justice department for his role in an illegal market manipulation operation. Executive Directors Gregg Smith and Christopher Jordan were also indicted.

The three are the latest targets in a widening DOJ criminal probe.

Nowak and Smith and Jordan are the third, fourth and fifth persons to be charged in the criminal price rigging scheme at  JPMorgan. They may not be the last. The bank is the most infamous amongst precious metals investors who have been crying foul over obvious price manipulation for years. 

Christian Trunz and John Edmonds, who worked for Nowak, have a ... Read more »