๐จ 5 Major Banks were criminally charged for manipulating Silver markets.
These fines totaled $1.2B+ for "manipulation of silver markets through spoofing and price rigging".
Silver crashed 28% on Friday, triggering trillions of losses
Here were the charges:
1. JPMorgan ($920M , 2020): JPM admitted wrongdoing for market manipulation of Silver to the US DoJ.
2. Scotiabank ($127.5M, 2020): US DoJ - "Fraudulent and manipulative trading practices in the markets for silver"
3. HSBC ($76.6M, 2018โ2023): CFTC enforcement for 2011โ2020 spoofing
4. Deutsche Bank ($75.5M, 2016โ2021): Silver fix settlement and CFTC actions for 1999โ2014 rigging
5. Morgan Stanley ($1.5M, 2019): CFTC civil penalty for 2013โ2014 spoofing
Credit: Navnoor Bawa.
Between 2008โ2016 five of these major banks systematically manipulated precious metals markets through spoofing, price rigging, and benchmark manipulation.
Regulators caught them. Fines and convictions spanned 2016โ2025.
This was concrete evidence of market manipulation of silver historically that was swept under the rug.
And, it's possible markets are witnessing it again with the current silver crash of 2026.
