Ex-Merrill Lynch Trader Denies Guilt In Slimmed Spoof Suit

Law360 (November 18, 2020, 5:29 PM EST) -- A former Merrill Lynch trader pled not guilty Tuesday to narrower charges in a market spoofing case against him after an Illinois federal judge said federal prosecutors initially attacked his conduct too broadly.

Ex-trader John Pacilio didn't appear in court to enter his plea before U.S. District Judge John Lee but told the judge in a court filing that he intended to enter it while also waiving his appearance and any formal reading of the third superseding indictment the U.S. government lobbed against him and co-defendant Edward Bases earlier this month.

The government's latest charges against the ex-traders are near-identical to...

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