ALL.
DIG IT!!!!!!Yea!!!!! PROOF!!!!! Manipulation of gold price on the short side!!!! There were two of the BASTARDS! Let's check my math skills here,
1 crook +1 crook = CONSPIRACY
<<Sep. 14-MAR--
[B] CFTC ties Armstrong fraud to precious metals, crude, yen
--CFTC will not specify Armstrong's commodities, currency loss
By Heather MacGregor and Melanie Lovatt, Bridge News
New York--Sep 14--The Commodity Futures Trading Commission said
financier Martin Armstrong, who is accused of defrauding Japanese
investors out of about $1 billion, had a variety of futures positions
including yen, crude oil and precious metals. However Daniel Nathan,
deputy director of the CFTC's division of enforcement, declined to
quantify those positions or losses.
* * *
He said that there could be losses in other sectors, although so far
yen, crude oil and precious metals are the only areas the CFTC has chosen
to identify.
While market players have speculated that Armstrong and his companies,
Princeton Economics International and its subsidiary Princeton Global
Management, had maintained large positions in gold and silver, Nathan
would not provide any specifics on Armstrong's precious metals trading
activities.
Rumors started to circulate today in the precious metals trading
community that that Armstrong has been liquidating short positions in both gold and silver futures. However, the freezing of the accounts would prevent any activity from taking place, noted Nathan. On Monday, the court appointed a temporary receiver with the power to take possession of assets, property and records of PEI and PGM
(story 18733).
The CFTC, the Securities and Exchange Commission, and federal authorities all filed fraud complaints Monday against Armstrong.
Armstrong is accused of defrauding Japanese corporate investors out of possibly $1 billion by falsely inducing them to purchase about $3 billion in fixed-term promissory notes offered by Princeton Economics
International and its subsidiaries. Armstrong allegedly illegally operated commodity futures trading pools at losses which he concealed from investors.>> |
