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2 Commodities Traders Cop To $60m Spoofing Fraud - Latest News
2 Commodities Traders Cop To $60M Spoofing Fraud
Law360 (November 6, 2018, 10:56 PM EST) -- Two commodity futures traders pled guilty to conspiracy to engage in wire fraud, commodities fraud and spoofing in Texas federal court over a scheme that ... read more
Stocks: Was One Man Responsible For the 2010 "Flash Crash"?
10 counts of commodities fraud, 10 counts of commodities manipulation, and one count of "spoofing"(entering orders with the intent of cancelling them before they are executed), all in relation to his ... read more
Hedge Fund News: Steven Cohen, Kenneth Griffin, Geoffrey Raynor
With some $2 billion in total inflows last month ... money managers cut their net-long bets on 18 U.S. commodity futures and options by 1.7% in the week ended Sept. 18, the Commodity Futures Trading ... read more
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Part 2 - Recent Enforcement Trends In Commodity Markets
Last fall, Aitan Goelman – the Director of Enforcement for the Commodity Futures Trading ... “spoofing” For information on administrative law judges, see the first blog post in this series. One of the ... read more
FBI: $1.2B Lost to Business Email Scams
The FBI today warned about a significant spike in victims and dollar losses stemming from an increasingly common scam in which crooks spoof ... 2 million from one of Omaha, Nebraska’s oldest companies ... read more
The Day Trader and the Flash Crash: Unanswered Questions
ten counts of commodities fraud, and one count of “spoofing”—the practice of placing large orders and quickly cancelling them, which sometimes is used to move prices in the market and generate ... read more
3 Commodity Traders Charged In $60M Spoofing Scheme
Law360 (October 12, 2018, 7:50 PM EDT) -- The U.S. Department of Justice said Friday that it has hit three commodity futures traders with fraud and conspiracy charges related to a spoofing scheme that ... read more
London trader 'helped trigger £500bn 2010 Flash Crash from his semi'
The FBI claim he is a rogue trader who ... a single count of wire fraud, which carries a sentence of 20 years. Sarao also faces 10 counts of commodities manipulation and attempted commodities ... read more
Hillary Clinton to Propose High-Frequency Trading Tax, Volcker Rule Changes
The proposal would also take aim at the practice of spoofing, the practice of rapidly submitting fake orders and then withdrawing them to try to move asset prices in a desired direction. The Justice ... read more
Analysis - 'Flash crash' market manipulation case poses test for prosecutors
Sarao was arrested in the United Kingdom, after being charged in U.S. District Court in Chicago with fraud ... commodities trader Michael Coscia of New Jersey sought to have his indictment from ... read more
(Commodity Futures Trading Commission) CFTC Enforcement Update: Straight From The Acting-Chief’s Mouth
Lowe, the Acting Director of the Commodity Futures Trading Commission’s Division of Enforcement ... use of a manipulative device or contrivance) and Panther Energy (a spoofing case). Another aspect of ... read more
Navinder Sarao 'who helped spark Wall Street crash once made £4m in one day'
Sarao faces extradition to the US over 22 allegations of wire fraud, commodities fraud and market manipulation ... The prosecution allegation is that by that trading he engaged in what is known as ... read more