All,
Here it is:
UNITED STATES DISTRICT COURT
District of Massachusetts
Civil Action No.
00-CV-12485-RCL
______________________________________
)
Reginald H. Howe, )
Plaintiff, )
)
v. )
)
Bank for International Settlements, )
Alan Greenspan, )
William J. McDonough, )
J.P. Morgan & Co. Inc., )
Chase Manhattan Corp., )
Citigroup, Inc., )
Goldman Sachs Group, Inc., )
Deutsche Bank AG and )
Lawrence H. Summers, )
Secretary of the Treasury, )
Defendants. )
______________________________________)
COMPLAINT
I. Jurisdiction
1. This is a complaint for damages and injunctive
relief arising out of manipulative activities in
the gold market from 1994 to the present time
orchestrated by government officials acting outside
the scope of their legal or constitutional authority
and certain large bullion banks active in the
over-the-counter gold derivatives markets and on the
Commodities Exchange ("COMEX") in New York. The
complaint alleges horizontal price fixing in
violation of Section 1 of the Sherman Act, securities
fraud in violation of Section 10(b) and Rule 10b-5
of the Securities Exchange Act of 1934 ("Exchange Act"),
common law fraud and breach of fiduciary duty by
the directors of the Bank for International
Settlements with regard to holders of its American
issue, and violations of the Constitution by federal
officials acting under color of federal law but
wholly outside the scope of their legal or
constitutional authority. Subject matter jurisdiction
of the federal claims is based on 15 U.S.C. s. 15(a)
(antitrust) and s. 78aa (violations of the
Exchange Act), 28 U.S.C. s. 1331 (federal question),
s. 1337 (commerce and antitrust) and s. 2201
(declaratory relief), and 12 U.S.C. s. 632
(international banking and financial transactions).
Supplemental jurisdiction of the common law
claims is based on 28 U.S.C. s. 1367.
II. Parties, Venue and Standing
2. The plaintiff, Reginald H. Howe, is an
American citizen, residing currently and at all
times material hereto at 49 Tyler Road, Belmont,
Massachusetts 02478. He is suing in his individual
capacity as: (1) the duly registered holder of six
shares of the American issue of the Bank for
International Settlements; and (2) the holder of
1200 depositary shares of Gold-Denominated
Preferred Stock, Series II, of Freeport-McMoran
Copper & Gold, Inc. The plaintiff is the proprietor
of The Golden Sextant (www.goldensextant.com), an internationally
recognized website containing
commentaries, essays and analyses relating to gold,
and a member of Golden Sextant Advisors LLC. The
plaintiff has engaged in research and analysis on
gold derivatives, which are instruments such as
forward contracts, futures, options and swaps whose
value is tied to -- or derived from -- the price
of gold, and in this connection has uncovered
considerable evidence of their use to manipulate
gold prices.
3. While the plaintiff has not assigned any part
of this action to others and retains full control
thereof, he has received and expects to continue
to receive support, both financial and informational,
from the Gold Anti-Trust Action Committee Inc.
("GATA"), a civil rights and educational organization
formed under Delaware law in January 1999 to expose
manipulation of the gold market by certain bullion
banks. The plaintiff was a contributor to GATA's
study on the gold market, Gold Derivative Banking
Crisis, which is posted at its website (www.gata.org)
and has been downloaded in full PDF format more
than 20,000 times. The plaintiff was also a member
of the GATA delegation that met with the Hon.
Dennis L. Hastert, Speaker of the U.S. House
Representatives, in May 2000 to present to him
the conclusions of the GATA study. Much of the
evidence cited in this complaint comes from GATA's
many friends and supporters worldwide.
BILL MURPHY
CHAIRMAN, GOLD ANTI-TRUST ACTION COMMITTEE |
