Given today's news that JPMorgan won a dismissal of all charges in a class-action silver price-fixing lawsuit, we thought we would take another look at this story.
A bizarre and still unresolved case.
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JPMorgan And The Andrew Maguire Hit & Run Mystery
This certainly has the appearance of a professional hit on Andrew Maguire and his wife. It occurred just days after Maguire's name was revealed in congressional testimony, and the identity of the assailant still has not been released by London police.
Maguire now believes the accident was an attempt on his life.
"We got hit in the side at full acceleration and tried to corral the cars in a gas station, including the guy who hit us with a commercial vehicle,” Maguire explained. The assailant then got in his car and accelerated, hitting a number of cars as he escaped from the gas station, making the event into a hit-and-run situation.
The driver was apprehended after a police chase, both on the ground and from the air in helicopters, but his name has not been released. "The police told us the assailant was known to them and even that they arrested him. But recently the police won’t say anything, and I haven’t been able to learn anything about the assailant, except that he was given a slap on the wrist and let go."
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The Original Story
A London-based precious-metals trader who had accused JPMorgan Chase of manipulating the gold and silver markets was involved in a bizarre weekend car accident that triggered a police chase before the suspect was nabbed.
Andrew Maguire, a metals trader at the London Bullion Market Association, and his wife were traveling in their car when a second car coming out of a side street struck their vehicle. That car then hit two more vehicles before fleeing.
London cops using helicopters and patrol cars chased the hit-and-run driver before nabbing that person, whose name has not been released by authorities.
The hit and run occurred after Maguire's name came to light Thursday during a US Commodities Futures Trading Commission hearing on limiting gold and silver positions held by large market participants in order to prevent manipulation.
During the hearing, Maguire was identified as having sent e-mails to Bart Chilton, a CFTC commissioner, and Eliud Ramirez, head of the commission's enforcement division, alleging that JPMorgan had used its massive metals positions to manipulate the commodities markets.
In one e-mail, Maguire wrote, "It is common knowledge here in London among the metals traders that it is JPM's intent to flush out and cover as many shorts as possible prior to any discussion in March about position limits," referring to last week's CFTC hearings.
Good video on JPM silver manipulation...
Earlier:
JPMorgan Wins Dismissal Of Silver Price Fixing Lawsuit
