A four-year investigation by the Commodity Futures Trading Commission into misconduct in the silver market will likely be dropped due to a lack of evidence, the Financial Times reports. However, the CFTC has not officially concluded the probe. Some U.S. silver investors allege that JPMorgan and other large investment banks conspired to drive down the price of silver.
The investigation, which has been going on since 2008, has led the CFTC to analyze more than 100,000 documents. The CFTC’s inquiries into the silver market in 2004 and 2008 did not uncover evidence of wrongdoing.