A cache of documents from Deutsche Bank AG include what a group of silver investors claim is a “smoking gun”: private electronic chats showing traders from numerous banks conspiring to rig prices from 2007 to 2013, according to a court filing in New York last week. The bank provided the documents to the investors after settling a lawsuit accusing it of rigging markets in precious-metals. As part of the accord in April, the bank paid $38 million and turned over more than 350,000 pages of documents and 75 audio tapes. The investors now want to use the chats to win permission from a judge to file a new complaint against other banks. The traders aren’t named in the chats now in court filings; instead, they are identified by their bank, such as UBS Trader A. The chats have not been edited for spelling or grammar: In Chats, Silver ‘Mafia’ Traders Flexed Muscle, Drew Blades UBS and Deutsche Bank silver traders agreed to follow the “11 o’clock” rule where they would short...
from GoldBroker.com https://www.goldbroker.com/news/3-2-1-boom-silver-fixing-allegations-in-a-dozen-chats-1059
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