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Pam and Russ Martens: JPM's former chief monetary metals trader claims he was fired for cooperating with Justice Dept.
By Pam and Russ Martens
Wall Street on Parade
Tuesday, April 20, 2021
Donald Turnbull, a former global head of precious metals trading at JPMorgan Chase, has filed a doozy of a federal lawsuit against the bank.
Turnbull worked on the same JPMorgan Chase precious metals desk that was deemed to be a racketeering enterprise by the U.S. Department of Justice when it handed down indictments in 2019. This was the first time that veterans on Wall Street could recall employees of a major Wall Street bank being charged under the Racketeer Influenced and Corrupt Organizations Act or RICO statute, which is typically reserved for organized crime.
... Dispatch continues below ...
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JPMorgan Chase, the largest bank in the United States, has the further unprecedented distinction for a U.S. bank of being charged with five felony counts by the Justice Department in a six-year span, running from 2014 to 2020. The bank admitted to all the charges while its board kept Chairman and CEO Jamie Dimon at the helm throughout the unprecedented crime wave, giving the impression that crime is an accepted business model at the bank.
Turnbull's lawsuit, filed his month in U.S. District Court for the Southern District of New York, alleges that the bank trumped up false charges against Turnbull as a pretext to terminate him when it was actually terminating him for cooperating with the Justice Department's investigation. ...
... For the remainder of the report:
https://wallstreetonparade.com/2021/04/a-traders-federal-lawsuit-against...
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