Articles Tagged with racketerring

aidan-bartos-313782-copy-300x200JPMorgan executives tasked with managing the bank’s precious metal investing are now the target of an extremely aggressive investigation in which some of these executives are being charged under RICO. Federal prosecutors agreed that the move was aggressive and rarely used in banking conspiracy cases, but also noted that the alleged price-fixing and racketeering occurred over eight years. JPMorgan pleaded guilty to price-fixing and the major players, at least the ones who were caught, now face serious criminal charges.

Prosecutors also allege that Michael Nowak, the main player in the federal investigation, ripped off market participants and clients in order to control the prices of gold, platinum, silver, and palladium. Two other traders were charged, as well.

Spoofing

aidan-bartos-313782-copy-300x200Various crimes happen every day in Chicago, Illinois. Citizens caught violating the law, will, of course, be charged. Depending on the crime and circumstances, some may face minor charges, while others will face more serious charges. One of the crimes that takes years to clear in Chicago is racketeering.

What is Racketeering?

Racketeering is organized crime in which illegal business takes place. Rackets may refer to illegal businesses or dishonest services offered to steal and collect funds. This form of crime runs various groups assigned in different places to maintain profits for the business. This group of criminals may even use fake products and documents. They know how to get your trust and sympathy. They can even look like an innocent individuals. They are often heard about through community news reports.