[pogoliamo]

The banks reaped about 100 million euros in fees from the transactions, Milan’s financial police said today. The banks misled municipal officials on the advantages of buying the derivatives, including the impact of the fees they charged on the contracts, the financial police have said. Officials at all four banks declined to comment.

Milan Police Seize EU476 Million From UBS, JPMorgan, Deutsche

what's going on here ???

[ColossalContrarian]

Looks like the banks don't have EVERYONE in their pocket....

“Milan is an important case because it can be used as an example by others,”

and hopefully it will. The Banksters might be safe in the US but not the rest of the world.

[pedalling_faster]

The banks reaped about 100 million euros in fees from the transactions, Milan’s financial police said today. The banks misled municipal officials on the advantages of buying the derivatives, including the impact of the fees they charged on the contracts, the financial police have said. Officials at all four banks declined to comment.

Milan Police Seize EU476 Million From UBS, JPMorgan, Deutsche

what's going on here ???

Progress !

financial fraud perp's use the banks as a conduit to route $$ to their own private bank accounts.

next step is to seize private assets of the banksters.

[RdSnt]

It's likely the local mafia realized they weren't getting their cut. Stupid bankers, the last place you want to screw with is the land of money laundering experts.

As the public becomes more aware of what it is the banks have done and the number of public officials that need to cover their asses increases, I would suspect you are going to see a lot more action taken.
It's fun to watch as thieves play "last man standing", as they fight to stay out of jail, turn on each other and stab each other in the back.

[pogoliamo]

here you go

May 5 (Bloomberg) -- U.S. regulators filed their first insider-trading case focusing on credit-default swaps, suing a Deutsche Bank AG salesman who allegedly tipped a hedge-fund portfolio manager to a bond sale in 2006.

Link

[pogoliamo]

JPMorgan Says SEC Plans Action Over Jefferson County (Update2) JPMorgan Chase & Co. said U.S. Securities and Exchange Commission officials approved filing an enforcement action against it for securities law violations involving bond and swap sales for Jefferson County, Alabama.

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