JP Morgan Gold Traders Go to Jail, While JP Morgan Exits DoJ ‘Sin Bin’

October 16, 2023

by Ronan Manly Bullion Star

There have been some interesting developments in the long running saga of criminal prosecutions by the US Department of Justice (DoJ) against J.P. Morgan and its lawbreaking traders for precious metals price manipulation and fraud.

While three of JP Morgan’s top former gold traders were sentenced to jail in late August and September 2023, JP Morgan itself walks free after now having exited its 3 year-long Deferred Prosecution Agreement (DFA) with the US Department of Justice (DoJ) – which was entered into in September 2019 and which expired in late September 2023.

This Deferred Prosecution Agreement relates to the September 2019 deal where JP Morgan paid US$ 920 million “in a criminal monetary penalty, criminal disgorgement, and victim compensation” to buy a ‘Get out of Jail Free card“, and avoided prosecution by the DoJ while admitting criminal wrongdoing.