Traders At Risk Of DOJ Wire Fraud Charges For Spoofing

Law360 (May 9, 2019, 4:46 PM EDT) -- If there ever was a doubt about the increased focus on commodities fraud, such as spoofing, U.S. Commodity Futures Trading Commission chairman Christopher Giancarlo’s recent testimony to Congress is a stark reminder: “[B]y any measure, enforcement has been among the most vigorous in the history of the CFTC, including more enforcement actions, more penalties, more large-scale matters, more accountability, more partnering with criminal law enforcement at home and abroad and more whistleblower awards than in prior years.”[1]

As emphasized by Giancarlo, “we’ve increased our efforts to work with the Department of Justice ... as reflected by the significantly increased number of...

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