A London-based precious-metals trader who had accused JPMorgan Chase of manipulating the gold and silver markets was involved in a bizarre weekend car accident that triggered a police chase before the suspect was nabbed.
Andrew Maguire, a metals trader at the London Bullion Market Association, and his wife were traveling in their car when a second car coming out of a side street struck their vehicle. That car then hit two more vehicles before fleeing.
London cops using helicopters and patrol cars chased the hit-and-run driver before nabbing that person, whose name has not been released by authorities.
Maguire and his wife were released from the hospital yesterday. London police would not comment on the accident investigation.
The hit and run occurred after Maguire’s name came to light Thursday during a US Commodities Futures Trading Commission hearing on limiting gold and silver positions held by large market participants in order to prevent manipulation.
During the hearing, Maguire was identified as having sent e-mails to Bart Chilton, a CFTC commissioner, and Eliud Ramirez, head of the commission’s enforcement division, alleging that JPMorgan had used its massive metals positions to manipulate the commodities markets.
In one e-mail, Maguire wrote, “It is common knowledge here in London among the metals traders that it is JPM’s intent to flush out and cover as many shorts as possible prior to any discussion in March about position limits,” referring to last week’s CFTC hearings.
JPMorgan inherited the positions when it acquired Bear Stearns two years ago.
When the allegations first surfaced last week, JPMorgan declined to comment.
On March 25, Murphy disclosed Maguire’s charges in a public hearing before the CFTC, a clip of which can be viewed on YouTube.
Maguire and his wife were involved in a bizarre car accident in London, the New York Post reported March 29.
Maguire told WND he reluctantly has come to believe the car accident was an attempt on his life.
“We got hit in the side at full acceleration and tried to corral the cars in a gas station, including the guy who hit us with a commercial vehicle,” Maguire explained.
The assailant then got in his car and accelerated, hitting a number of cars as he escaped from the gas station, making the event into a hit-and-run situation.
“The police told us the assailant was known to them and even that they arrested him,” Maguire said. “But recently the police won’t say anything, and I haven’t been able to learn anything about the assailant.”
DGC magazine has just posted an excellent edition dedicated to GATA, the current events surrounding the CFTC hearings, and the London metals trader Andrew Maguire.
DGC’s Editor Mark Herpel has gone to painstaking detail to provide links to all of the evidence used to back the arguments being made by the players involved.
If you take the time to do the due diligence, you should be able to form an excellent opinion on your own as to whether this story holds water or not.
View the DGC Magazine GATA edition here: http://www.dgcmagazine.com/dp/