He presented evidence to United States regulators alleging that fraud had been committed, and that prices in the international gold and silver markets had been manipulated.
[3] In an interview with CBC aired in April 2013 Andrew Maguire described how mysterious traders, allegedly working for bullion banks JPMorgan and to a lesser extent HSBC, waited for most of the major markets from Shanghai to London to be closed then concentrated their dealing on COMEX.
He contacted commissioner Bart Chilton, who had Eliud Ramirez, a senior investigator from the CFTC's enforcement division, get in touch with Maguire.
[7][8] While the event was taking place, Maguire sent e-mails in real time, pointing out certain details because the CFTC enforcement seemed not to know what to look for or how to interpret the data.
[5] GATA chairman Bill Murphy gave a detailed account of Maguire's allegations to the Commodity Futures Trading Commission (CFTC), stating how "JP Morgan Chase signals to the market its intention to take down the precious metals.
[He] explained how there are routine market manipulations at the time of option expiry, non-farm payroll data releases, and COMEX contract rollover, as well as the ad hoc events.