CFTC subpoenas metal warehouse companies


The Commodity Futures Trading Commission has reportedly subpoenaed Goldman Sachs (GS), JPMorgan (JPM), Glencore Xstrata (GLCNF.PK) and their subsidiaries for documents relating to warehouses they operate for aluminum and other metals.

The agency has requested information dating back to January 2010; it also wants documents relevant to the companies' relationships with the London Metals Exchange.

The CFTC's investigation follows allegations that the activities of warehousing companies have artificially boosted the price of metals, particularly aluminum.

Earlier speculation said the CFTC had sent subpoenas to an unnamed metals warehousing firm.

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Comments (2)
  • brea
    , contributor
    Comments (49) | Send Message
     
    about time cftc, sec did something the fraud has been rampant for YEARS!!!!!!!!!! just a little research will be very illuminating
    13 Aug 2013, 08:57 AM Reply Like
  • jmjjmj1
    , contributor
    Comments (183) | Send Message
     
    now get on the oil manipulation...
    13 Aug 2013, 09:21 AM Reply Like
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