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Wall Street Bank with Three Felonies Sends Employee to Head SEC Trading Division

Courtesy of Pam Martens

Brett Redfearn

Brett Redfearn

The arrogance of the captured Wall Street regulators in Washington grows exponentially with each passing day.

The only Wall Street bank which has admitted to three criminal felony charges – all coming within the past three years – has been allowed to send one of its trading executives to head a key post at Wall Street’s top cop – the Securities and Exchange Commission (SEC). Failing up continues to be the business model in the nation’s capitol.

The Trump administration, in its continuing Swamp-filling mandate from the billionaires behind the dark curtain, has elevated Brett Redfearn as Director of the Division of Trading and Markets at the SEC. Redfearn has worked at JPMorgan Securities from November 2004 to October 2017 when he was named to the new SEC post.

In 2014 the U.S. Justice Department slapped JPMorgan with two criminal felony counts related to its banking relationship with Ponzi schemer Bernie Madoff. JPMorgan admitted to the charges and received a deferred prosecution agreement.

On January 7, 2014, FBI Assistant Director-in-Charge George Venizelos had this to say about the criminal charges: “J.P. Morgan failed to carry out its legal obligations while Bernard Madoff built his massive house of cards. Today, J.P. Morgan finds itself criminally charged as a consequence. But it took until after the arrest of Madoff, one of the worst crooks this office has ever seen, for J.P. Morgan to alert authorities to what the world already knew. In order to avoid these types of disasters in the future – we all need to be invested in making our markets safer and more equitable. The FBI can’t do it alone. Traders, compliance officers, analysts, bankers, and executives are the gatekeepers of the financial industry. We need their help protecting our markets.”

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