Zhao’s Spoofing Plea Deal Telegraphs More To Come In 2019

Law360 (January 22, 2019, 12:59 PM EST) -- While the nation’s attention was on the government shutdown, the U.S. Department of Justice quietly secured its latest guilty plea to criminal spoofing charges.

On Dec. 26, 2018, Jiongsheng “Jim” Zhao pleaded guilty to one count of spoofing in the U.S. District Court for the Northern District of Illinois as part of a deal with the DOJ.[1]

Zhao, a proprietary firm trader who resides in Australia, was charged in January 2018 as part of a dual-agency “spoofing takedown” that saw criminal and civil charges filed against three banks, a trading software company, and a host of individuals. The U.S. Commodity Futures...

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