Detention manipulate the price of precious metals (video) audio in Spanish

(OroyFinanzas.com) -In this occasion "honor" belongs to Andre Flotron, former UBS bank worker, who has been arrested in New Jersey and charged with conspiracy, fraud and forgery for his performance on price manipulation gold, silver, platinum and palladium. Flotron faces a possible sentence of 25 years in prison

The arrest of former banker is not the only one that has taken place around the manipulation of precious metals and enters into research that the Department of Justice carried out on possible manipulations and malpractices in the foreign exchange market during the period 2008- 2013. Indeed, in this investigation, Flotron was one of the collaborators who told US prosecutors and hence his lawyer has shown "surprised by the arrest."

According to statements by the authorities , Flotron and his accomplices placed big orders in the market for precious metals futures contracts with the prior intention to settle before they were executed. At the same time, the manipulators were engaged in running smaller orders in opposite direction, taking advantage of becoming the market to make huge profits. The case against Flotron has been possible thanks to the collaboration of one of his accomplices, who has avoided facing the same criminal charges for collaborating with the Justice. The investigated transactions took place in the gold futures market between 2011 and 2012. And his problems do not end here because Swiss regulators also are investigating since 2014.

As we say, the arrest of Flotron is no exception in the market. Last June, the former employee of Deutsche Bank David Liew, pleaded guilty to fraud in a federal court in Chicago, taking responsibility in falsifying contracts of gold, silver, platinum and palladium. In April 2016,  the German bank reached an agreement with the authorities for his role in manipulating the price of gold . Nor is an exception. Goldman was also sued in November 2014 by the same malpractices.