The American financial holding JPMorgan Chase & Co will pay more than $920 million in order to cover all losses incurred as a result of delinquencies in the manipulation of transactions with futures and precious metals. This decision is aimed at settling the claims of the US federal authorities.Claims against JPMorgan Chase are held by the US Department of Justice, the US Federal Securities and Exchange Commission, and the Commodity Futures Trading Commission.JPMorgan will pay $ 436.4 million in fines, $ 311.7 million in damages and more than $ 172 million in seizure of all amounts received from all illegal transactions to the state. As a result, the bank will pay the largest fine in the history of the Futures Trading Commission for this kind of manipulation.In the period from 2008 to 2016, the number of bank employees were accomplices in a fraudulent scheme, which involves flooding a market with orders that are not actually binding. This practice was banned after the 2008 US financial crisis.Also there was an agreement to defer prosecution of charges of electronic fraud between JPMorgan, the US Department of Justice, and the Connecticut County Attorney's Office.
