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1st Convicted Spoofer's New Data Doesn't Secure New Trial

Law360 (May 15, 2019, 6:43 PM EDT) -- An Illinois federal court won't allow a retrial for the first person to be convicted of spoofing the commodities markets, finding Wednesday that the former trader's "newly discovered evidence" was unlikely to change the outcome of the case.

Earlier this year, Michael Coscia challenged various aspects of the government's evidence presented during his 2015 trial, which was treated as a test case for the Dodd-Frank law that criminalized spoofing, or placing large orders on the commodities markets with the intent to cancel before they can be filled in order to influence prices.

Prosecutors had told the jury that while Coscia placed...

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Illinois Northern

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October 1, 2014

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