Analysis

Chicago Trial Will Break Tie On Market Spoofing Theory

Law360 (September 11, 2020, 8:13 PM EDT) -- A trial against two former Deutsche Bank traders that begins Monday in Chicago will for the third time test federal prosecutors' theory that high-frequency traders and others were victimized by an unlawful market spoofing scheme, breaking a tie set in two previous spoofing trials.

The upcoming courtroom showdown will pit the U.S. government against James Vorley and Cedric Chanu, ex-Deutsche Bank traders charged with wire fraud for allegedly spoofing the precious metals market. Vorley and Chanu, who have been fighting the charges for two years, maintain that they were simply doing their job and that the orders at issue didn't constitute...

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