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Convicted Spoofer Asks 7th Circ. To Reconsider His Case

Law360, New York (August 24, 2017, 6:14 PM EDT) -- The first trader convicted of “spoofing” the futures market has asked the Seventh Circuit to rehear his case after a panel affirmed his conviction earlier this month, saying his conduct falls under what the panel defined as lawful trading.

On Aug. 7, a three-judge panel unanimously upheld Michael Coscia’s conviction on, finding contrary to Coscia’s arguments that the statute outlawing spoofing is clear and that the evidence presented at his 2015 trial was enough to convict.

But Coscia on Monday asked the Seventh Circuit to rehear...
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