WASHINGTON, Aug 22 (Reuters) - Two former precious metals traders at JPMorgan Chase (JPM.N) were sentenced on Tuesday for engaging in fraud, attempted price manipulation and spoofing, the U.S. Justice Department said in a statement.
Gregg Smith, 59, of Scarsdale, New York, was sentenced to two years in prison and a $50,000 fine while Michael Nowak, 49, of Montclair, New Jersey, was sentenced to one year and one day in prison and a $35,000 fine, the Justice Department said.
You must log in or # to comment.
Why is it JP Morgan always gets the grace in the headlines? Former employees, right. “They were caught by authorities, who told us, and we got our ducks in a row and fired them and then let them get arrested”. Every time.
