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USA v. Coscia

  1. May 15, 2019

    1st Convicted Spoofer's New Data Doesn't Secure New Trial

    An Illinois federal court won't allow a retrial for the first person to be convicted of spoofing the commodities markets, finding Wednesday that the former trader's "newly discovered evidence" was unlikely to change the outcome of the case.

  2. February 20, 2019

    Feds Say New Data Won't Buy Spoofer Coscia A New Trial

    Federal prosecutors told an Illinois federal judge on Wednesday that "newly discovered evidence" Michael Coscia references in his bid for a new trial is immaterial and was available prior to the 2015 trial in which he became the first person to be convicted of spoofing the commodities markets.

  3. January 11, 2019

    1st Convicted Spoofer Alleges Spotty Data In Bid For New Trial

    Michael Coscia, the first person to be convicted of spoofing the commodities markets, asked an Illinois federal judge for a retrial, saying on Thursday that prosecutors showed the jury misleading evidence based on an incomplete set of trading data.

  4. October 07, 2016

    Feds Urge 7th Circ. To Uphold 1st Spoofing Conviction

    The federal government urged the Seventh Circuit Court of Appeals on Thursday to uphold a New Jersey trader's conviction for "spoofing" on the Chicago Mercantile Exchange, saying he had fair notice that his conduct was illegal.

  5. September 27, 2016

    7th Circ. Agrees First Convicted Spoofer Must Stay In Jail

    The Seventh Circuit on Monday denied bail for the first trader ever convicted of "spoofing" markets, pending his appeal of his three-year sentence for the market manipulation that involves placing dishonest orders on an exchange.

  6. September 09, 2016

    First Convicted 'Spoofer' Denied Bail During Appeal

    A New Jersey trader convicted of "spoofing" was denied bail Thursday pending the appeal of his three-year sentence for allegedly manipulating markets by placing dishonest orders on an exchange, after an Illinois federal judge said the jury's ruling was not likely to be overturned.

  7. August 17, 2016

    Feds Say Convicted Spoofer Unlikely To Prevail On Appeal

    The federal government on Wednesday told an Illinois federal court to deny bail to the nation's first trader to be convicted of "spoofing," saying he hasn't shown any likelihood he would win an appeal.

  8. August 04, 2016

    Convicted Chicago Spoofer Wants Bail During 'Novel' Appeal

    The nation's first trader to be convicted of "spoofing" asked an Illinois federal court Wednesday to grant him bail while he appeals, arguing that he plans to present "novel and substantial questions of law" regarding the new market manipulation statute.

  9. July 13, 2016

    Market Spoofing Remains Live Issue After 1st Sentencing

    The three-year sentence handed down Wednesday against the nation's first indicted spoofer is likely to spur further prosecution of a market manipulation tactic that only recently became illegal, but with the Seventh Circuit set to weigh the case sometime next year, the controversy surrounding the newly created statute is unlikely to die down anytime soon, legal experts say.

  10. July 13, 2016

    Nation's First Convicted Spoofer Gets 3 Years In Prison

    An Illinois federal judge set a new standard Wednesday when he sentenced a New Jersey trader to three years in prison for manipulating commodities markets, in the first case ever tried over a recently criminalized scheme known as spoofing.

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