Traders, DOJ Set To Square Off In Next Chicago Spoofing Trial

Law360 (July 16, 2021, 9:51 PM EDT) -- Just as the dust settles from a similar case prosecutors tried last year, the Northern District of Illinois will host a fourth showdown starting Monday between the U.S. government and men accused of carrying out a scheme to manipulate the commodities market.

The government's 20-count case against former Merrill Lynch traders Edward Bases and John Pacilio accuses them of ripping off other commodities market participants by placing large, fake orders to feign demand and bolster the price of real trades they'd intended to execute, a practice known as spoofing.

This will be the fourth courtroom face-off in Chicago targeting conduct made...

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