Reuters reported yesterday HSBC, UBS and Deutsche Bank, as well as former traders at the banks and individuals at other firms, were charged following a large-scale multi-agency probe including the Commodity Futures Trading Commission into "spoofing" in metals and equities futures.
"The defendants in these cases engaged in sophisticated schemes or trading practices aimed at defrauding individuals and entities trading on United States futures exchanges, " said John Cronan, the acting head of the department's criminal division, referring to the eight individuals, Reuters reported. The two Fairfield County residents, Edward Bases of New Canaan and John Pacilio of Fairfield, were identified as precious metals traders at unnamed global financial institutions and were charged with spoofing phantom orders in the commodities market in order to profit on what other traders assumed were legitimate orders.
The department stressed that all defendants were "presumed innocent until proven guilty beyond a reasonable doubt in a court of law".
"Conduct like this poses significant risk of eroding confidence in U.S. markets and creates an uneven playing field for legitimate traders and investors", John Cronan, the acting head of the Justice Department's criminal division, said in a statement.
Spoofing involves placing bids to buy or offers to sell futures contracts with the intent to cancel them before execution.
The CFTC said Deutsche Bank had agreed to pay $30m to civil charges in the case, covering a period from 2008 to 2014.
The Justice Department's John Cronan said such manipulation erodes confidence in USA markets and "creates an uneven playing field" for legitimate traders and investors. It will pay $15m. Deutsche Bank will pay $30 million and UBS $15 million of that total in a wide-reaching investigation that also names six individuals.
A UBS spokesman noted that the bank "cooperated fully in the investigation, and has long since remediated the conduct", while a spokesperson for Deutsche Bank said the bank provided "substantial and proactive cooperation with the government's investigation and has enhanced controls and surveillance to help ensure that the underlying conduct does not occur in the future".
He says that Pakistan has shown previously that when they are criticised internationally it has reacted by means of the Taliban. Two were killed in a gun battle with troops, two others detonated their suicide vests and one was arrested by troops.
In game two, 56 percent of public bets are placed on the Metropolitan Division All-Stars to defeat the Atlantic Division . For the second straight year, the format in the All-Star Game will be a 3-on-3 style tournament with four teams.
Earlier on Wednesday, gunmen attacked the offices of the worldwide NGO Save the Children in the city of Jalalabad. The Local Ariana News reported that two attackers and two soldiers got killed in the exchange of fire.
However, no casualties or damage have been reported yet in India but one person died and several injured in Balochistan. There have been no reports of damage in Kabul or in Islamabad, both of which were shaken by the impact.
These lunar events are not uncommon to see on their own, but it is extremely rare to see all three events take place together. This position is called perigee and simply means that the moon is in the part of its orbit that puts it closest to Earth.
That has eased tensions on the divided peninsula, but the North shows no sign it's willing to negotiate over its nuclear program. Russian Federation isn't the only country caught supporting North Korea's fuel needs this month.
The news comes after researchers tested the effects of e-cigarettes on mice, and human lung and bladder cells. In a new study, scientists warned that nicotine in e-cigarettes could convert into DNA-damaging chemicals.
A spokesman for the party said it will donate the $10,000 to "organizations that help victims of sexual harassment and abuse". Wynn Resorts has campaigned hard and invested heavily to develop its $2.4 billion casino resort in the state.
It test-fired three intercontinental ballistic missiles and conducted its sixth and most powerful nuclear test past year . But Mattis pointed out that South Korean officials have promised to limit the talks to Olympics-related topics.
But fiesty Kim wasn't about to let that kind of shade slide, and quickly fired back: 'You know what's confusing... She was undoubtedly referring to LiLo's sudden change in accent, which fans first noticed a little while back.
"To try to make this right, Epic is offering a full refund to every Paragon player for every purchase on any platform", it says. Did any of you guys play Paragon? The refund will come directly from Epic Games instead of platform providers or retailers.
Selter was asked to leave the aircraft after a disagreement occurred Saturday night at Miami International Airport (MIA)". She said in the interview that she was approached by five officers after standing up to stretch and open her overhead bin.
Three dead in California helicopter crash
The woman said the residents of the home that was struck were there, but were in another part of the property and were unharmed. Three people have been killed in southern California after a helicopter crashed into a house shortly after taking off.
Three lunar phenomena to occur on one night at a time
If you would rather watch it from the comfort of your home, NASA will be streaming a live broadcast while it occurs. Rather, it comes from the fact this will be the second full moon we see in the month of January, which is rare.
Trump Zeroes in on Iran's Threats
To highlight the brutality and depravity of North Korea, Trump put victims of the Kim regime in the spotlight. "Otto Warmbier was a hardworking student at the University of Virginia", Trump said during his speech.
Paris readies for floods as Seine surges larger
Unusually heavy rains have engulfed scenic quays, wine cellars and museum basements in Paris as Seine River appears rain-swollen. Nearly 1,500 people have been evacuated after the swollen River Seine rose further, raising fears of severe flooding in Paris .
Knicks and Joakim Noah looking to part ways
GM Scott Perry said earlier in the season he did not want to do that , as he liked having Noah's veteran presence around. As the Daily News reported, Noah shouted at Hornacek after being removed from last week's loss to the Warriors.