Ex-MF Global Trader Accused Of Manipulating Metal Futures

Law360, New York (March 14, 2012, 9:43 PM EDT) -- The U.S. Commodity Futures Trading Commission on Wednesday sued an ex-MF Global Inc. broker for allegedly attempting to manipulate the prices of palladium and platinum futures contracts on the New York Mercantile Exchange.

In a complaint filed in New York federal court, the CFTC said former MF Global broker Joseph F. Welsh III regularly tried to push up the prices of palladium and platinum futures by executing market-on-close orders from his client Christopher Pia, who was then a portfolio manager for Moore Capital Management LLC....
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