Eric King Interviews Whistleblower Andrew Maguire And Adrian Douglas Of GATA

 Source: Zero Hedge

Recently, whistleblower Andrew Maguire gained substantial notoriety among LBMA circles after disclosing what could be an epic cabal of commodity price manipulation, and was subsequently involved in what could be classified as an attempted hit-and-run. In a first media appearance, Andrew is interviewed in this exclusive with Eric King of King World News, where he is joined by GATA director Adrian Douglas, who also made ripples at the recent CFTC hearing in which he used the words of former Goldman analyst Jeffrey Christian against him in proving that the gold market is nothing but one big Ponzi, in which a run to deliverables would result in 99% unsecured claims (a 1 in 100 dilution).

As Eric King summarizes:

Andrew Maguire, independent metals trader turned whistleblower is in the center of a storm for exposing what could be the largest fraud in history involving countries, banks and government leaders. Adrian Douglas Board of Director from GATA, the man who Andrew reached out to also joins in this interview where they discuss a fraud so extraordinary and so unimaginable that it is the kind of thing that hollywood thrillers are made of. In this interview they also discuss the CFTC sponsored meeting on metals which was an unmitigated disaster because it additionally exposed the fraud on a grander scale. Thanks to GATA, Adrian and everyone else involved in helping to make this exclusive King World News interview possible.

Click here for full interview

Deutsche Bank, JPMorgan, UBS Are Charged With Fraud

March 17 (Bloomberg) -- Deutsche Bank AG, JPMorgan Chase & Co., UBS AG and Hypo Real Estate Holding AG’s Depfa Bank Plc unit were charged with fraud linked to the sale of derivatives to the City of Milan.

Judge Simone Luerti scheduled the trial of the four firms, 11 bankers and two former city officials for May 6, Prosecutor Alfredo Robledo said after a hearing in Milan today. The banks allegedly misled the city over swaps that adjusted interest payments on 1.7 billion euros ($2.3 billion) of bonds sold in 2005.

Prosecutors across Italy are investigating banks as local and national government agencies face potential losses of 2.5 billion euros on derivatives, lawyers say. The Milan probe may also affect cases as far away as the U.S., where securities firms have faced charges for price-fixing and bid-rigging in the sale of derivatives to municipalities, though not for fraud, according to former regulator Christopher “Kit” Taylor.

“This case could have repercussions over here if the trial showed deliberate intent,” said Taylor, a former executive director of the Municipal Securities Rulemaking Board, the national regulator of the municipal-bond market. “What happened in Europe was the continuation of a pattern in the U.S.”

JPMorgan is “vigorously” defending its position against the charges, the New York-based firm said in a statement. “The employees involved in the transactions acted with the highest degree of professionalism and entirely appropriately.”

‘No Criminal Plot’

UBS and “its exponents are confident that they will be able to demonstrate, in the course of the trial, that no criminal plot was conceived,” the Zurich-based bank said in a separate statement.

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