{"id":2006,"date":"2023-05-22T23:45:13","date_gmt":"2023-05-22T23:45:13","guid":{"rendered":"https:\/\/findbullionprices.com\/blog\/?p=2006"},"modified":"2024-07-17T04:00:16","modified_gmt":"2024-07-17T04:00:16","slug":"hsbc-bank-of-nova-scotia-deutsche-bank-win-dismissal-of-u-s-silver-price-fixing-litigation","status":"publish","type":"post","link":"https:\/\/findbullionprices.com\/blog\/hsbc-bank-of-nova-scotia-deutsche-bank-win-dismissal-of-u-s-silver-price-fixing-litigation\/","title":{"rendered":"HSBC, Bank of Nova Scotia &#038; Deutsche Bank Win Dismissal of Silver Price Manipulation Litigation"},"content":{"rendered":"\n<p>The litigation began in 2014 with the government accusing the banks of being involved in a multi-bank trading conspiracy to manipulate the price of silver. <\/p>\n\n\n\n<p>On Monday, U.S. District Judge Valerie Caproni in Manhattan dismissed the case against HSBC and Bank of Nova Scotia.<\/p>\n\n\n\n<p>In 2016, Deutsche Bank settled with the government for <a href=\"https:\/\/www.reuters.com\/article\/uk-deutsche-bank-settlement-silver-idUKKBN12H2H9\" target=\"_blank\" rel=\"noreferrer noopener\">$38M in 2016<\/a>, and then another <a href=\"https:\/\/news.bloomberglaw.com\/banking-law\/deutsche-bank-reaches-100-million-deal-to-settle-u-s-charges\" target=\"_blank\" rel=\"noreferrer noopener\">$130M in 2021<\/a>.<\/p>\n\n\n\n<p>In one of the settlements, it&#8217;s alleged that the price fixing by Deutsche began as early as 1999 and continued for more than a decade.<\/p>\n\n\n\n<p>In the Deutsche Bank case, two traders were sentenced to prison terms for their involvement in the manipulation of silver prices. Their sentences were affirmed in January when their <a href=\"https:\/\/www.reuters.com\/legal\/supreme-court-rejects-appeals-by-ex-deutsche-bank-traders-convicted-spoofing-2023-01-23\" target=\"_blank\" rel=\"noreferrer noopener\">appeals to the Supreme Court were rejected<\/a>. Each was <a href=\"https:\/\/www.reuters.com\/legal\/government\/ex-deutsche-bank-trader-gets-year-prison-spoofing-case-2021-06-21\/\" target=\"_blank\" rel=\"noreferrer noopener\">sentenced to served only 1 year plus one day<\/a>.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The litigation began in 2014 with the government accusing the banks of being involved in a multi-bank trading conspiracy to manipulate the price of silver. On Monday, U.S. District Judge Valerie Caproni in Manhattan dismissed the case against HSBC and Bank of Nova Scotia. In 2016, Deutsche Bank settled with the government for $38M in &#8230; <a title=\"HSBC, Bank of Nova Scotia &#038; Deutsche Bank Win Dismissal of Silver Price Manipulation Litigation\" class=\"read-more\" href=\"https:\/\/findbullionprices.com\/blog\/hsbc-bank-of-nova-scotia-deutsche-bank-win-dismissal-of-u-s-silver-price-fixing-litigation\/\">Read more<span class=\"screen-reader-text\">HSBC, Bank of Nova Scotia &#038; Deutsche Bank Win Dismissal of Silver Price Manipulation Litigation<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":1083,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[818,432,793,545,3],"tags":[822,966,675,663],"class_list":["post-2006","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deutsche-bank","category-gold-spot-price","category-jp-morgan-chase-news","category-news","category-silver-spot-price","tag-criminal-banks","tag-deutsche-bank","tag-jp-morgan-chase","tag-precious-metals-price-manipulation"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HSBC, Bank of Nova Scotia &amp; Deutsche Bank Win Dismissal of Silver Price Manipulation Litigation - FindBullionPrices.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/findbullionprices.com\/blog\/hsbc-bank-of-nova-scotia-deutsche-bank-win-dismissal-of-u-s-silver-price-fixing-litigation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSBC, Bank of Nova Scotia &amp; Deutsche Bank Win Dismissal of Silver Price Manipulation Litigation - FindBullionPrices.com\" \/>\n<meta property=\"og:description\" content=\"The litigation began in 2014 with the government accusing the banks of being involved in a multi-bank trading conspiracy to manipulate the price of silver. On Monday, U.S. District Judge Valerie Caproni in Manhattan dismissed the case against HSBC and Bank of Nova Scotia. In 2016, Deutsche Bank settled with the government for $38M in ... 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