‘3, 2, 1, Boom’ -- Silver-Fixing Allegations in a Dozen Chats
- Court documents detail private chats between bank traders
- Lawsuit alleges widespread rigging of precious metal market
- A cache of documents from Deutsche Bank AG include what a group of silver investors claim is a “smoking gun”:
- private electronic chats showing traders from numerous banks conspiring to rig prices from 2007 to 2013,
- according to a court filing in New York last week.
The bank provided the documents to the investors
- after settling a lawsuit, accusing it of rigging markets in precious-metals.
- As part of the accord in April, the bank paid $38 million and
- turned over more than 350,000 pages of documents and 75 audio tapes.
- The investors now want to use the chats to win permission from a judge
- to file a new complaint against other banks.
In Chats, Silver ‘Mafia’ Traders Flexed Muscle, Drew Blades