Call it what you want. It’s still Fraud!

JPMorgan Chase (JPM, -1.2%) will pay a record fine of $920M and admits wrongdoing in a settlement over market manipulation of metals futures and Treasury securities over eight years.

In the biggest penalty over the practice known as spoofing, the bank will pay a $436.4M fine, $311.7M in restitution and more than $172M in disgorgement, according to the CFTC.

Spoofing usually entails flooding derivatives markets with orders that the traders don’t intend to execute to deceive others into moving prices in a desired direction.

In the financial crash of 2008, my 5-figure money market savings account lost 54% of its value. The “expert” charged with managing that fund was fired. That wasn’t sufficient for me to continue doing business with the upper/mid-level firm I had trusted with my retirement account.

I don’t pay lots of attention to the financial industry’s movers and shakers; but, JP Morgan certainly has had a hefty enough reputation that I would have nodded assent to any friend who was thinking of sinking their savings into one of their investment products.

Now, they’re just another critter slouching in that line of trolls ready to take your hard-earned income and return a piece of the action back to you…no matter how they go about working at the increase. When crooked becomes one of the methods, we already get enough of that from Congress…who Mark Twain called “America’s only native criminal class.”

ICE set up a fake university, then arrested 250 who got student visas

” It has been 10 months since unsealed federal court documents revealed that U.S. immigration officials created a fake university to lure foreign-born college students who were trying to stay in the country on student visas that might not have been legal.

The University of Farmington, a fictitious school that U.S. Immigration and Customs Enforcement marketed as a hub for STEM students who wanted to enroll and not “interrupt their careers,” had a fake name, a fake website and a fake motto on its fake seal. “Scientia et Labor,” the seal said, which means “Knowledge and Work.”

Then, ICE rolled out deportation for the students, busted the “recruiters” they hired for the fictitious university – for fraud.

Truly a unique chapter added to the Book of Creepy US Government Hustles.

Mueller Finds No Trump-Russia Conspiracy – Doesn’t Exonerate Fake President on Obstruction of Justice


Salon

❝ The investigation led by Robert S. Mueller III found that neither President Trump nor any of his aides conspired or coordinated with the Russian government’s 2016 election interference, according to a summary of the special counsel’s findings made public on Sunday by Attorney General William P. Barr.

The summary also said that the special counsel’s team lacked sufficient evidence to establish that President Trump illegally obstructed justice, but added that Mr. Mueller’s team stopped short of exonerating Mr. Trump.

The fake president still faces numerous charges to come from Federal and State courts arising from the corruption uncovered in the course of this investigation. Corruption, sleaze, which remains meaningless to Republicans, racists, bigots of all stripes who will gladly follow their leader back into the 19th Century and beyond.

New charges could put Manafort away for 25 years


Carlo Allegri/Reuters

❝ On Wednesday morning in a D.C. courtroom, former Trump campaign chairman Paul Manafort engaged in what we assume was, for him, a deeply humiliating act: he expressed remorse, presumably for the first time in his 69 years on earth. Or, at least, he tried to. “I am sorry for what I’ve done and all the activities that have gotten us here today,” he told Judge Amy Berman Jackson, claiming that he shouldn’t get more jail time for the copious federal crimes he committed because he is his adult wife’s “primary caretaker,” and the two of them need each other…

While that reasoning might have worked on Judge T.S. Ellis, who strangely argued last week that Manafort had led a “blameless life” outside of all the crime, Jackson wasn’t having it, sentencing him to an additional 43 months on federal conspiracy charges, and letting him know she saw right through his act: “Saying I’m sorry I got caught is not an inspiring plea for leniency…”

❝ And, somehow, it’s unlikely that that was the worst part of Manafort’s day! Because literal minutes later, this happened:

New York prosecutors Wednesday announced criminal charges against President Donald Trump’s former campaign chief, Paul Manafort, only minutes after his sentencing in a federal case. The indictment, unveiled by Manhattan District Attorney Cy Vance, charges Manafort with 16 counts related to mortgage fraud, conspiracy, and falsifying business records. . . . Crucially, Trump does not have pardon power for state charges.

❝ …Last week, a grand jury moved to charge the guy who ran the president’s campaign with residential mortgage fraud, conspiracy, falsifying business records, and a handful of other crimes. If he’s convicted of the most serious charges, he could spend up to a quarter of a century in prison

Nice start to another piece of potential justice for one of Trump’s assistant creeps. If we’re lucky, we’ll live long enough to see Manafort and, eventually, the creep-in-chief spend some well-deserved time in the slammer.