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USA v. Coscia

  1. July 07, 2016

    Feds Seek Max Sentence For 1st Convicted 'Spoofer'

    The U.S. Department of Justice urged a Chicago federal judge Wednesday to stick with the sentencing guidelines for "spoofing," a crime created by the Dodd-Frank Act, saying it's important to make an example of the first person ever convicted of using algorithms and false orders to manipulate the market.

  2. June 30, 2016

    1st-Ever Convicted 'Spoofer' Asks For Probation

    The first person convicted of the new post-financial-crisis offense of criminal "spoofing" asked a Chicago federal judge Wednesday for a sentence of probation, citing the vagueness of the law at the time and his settlements with regulators. 

  3. April 07, 2016

    Landmark Dodd-Frank 'Spoofing' Conviction OK'd By Judge

    The government's ability to prosecute a new post-financial-crisis crime passed a key symbolic test on Wednesday, when a Chicago federal judge declined to grant a new trial to a New Jersey trader convicted of "spoofing."

  4. February 16, 2016

    Trader Says Novel Spoofing Conviction Should Be Overturned

    The high-frequency trader who in November became the first-ever individual convicted of spoofing is calling for acquittal in the Illinois federal court where he was tried, arguing that the government's novel theory on fraud threatens to upend the entire trading industry.

  5. November 10, 2015

    BigLaw Atty Faces Sanctions For Tweets At Spoofing Trial

    The co-chair of Barnes & Thornburg LLP's financial and regulatory litigation group is facing possible sanctions after a Federal Bureau of Investigation special agent spotted him taking photos and tweeting, both prohibited, during the widely publicized criminal trial of a high-speed trader convicted of spoofing.

  6. November 03, 2015

    High-Speed Trader Found Guilty In Landmark Spoofing Case

    A high-frequency trader who was accused of flooding the market with mass orders of commodities futures that he never intended to fulfill became the first person ever convicted of spoofing Tuesday when an Illinois federal jury returned a verdict of guilty on all twelve counts against him.

  7. October 26, 2015

    Landmark Spoofing Trial Gets Underway In Chicago

    The first day of the first ever criminal spoofing trial began in an Illinois federal court Monday with attorneys for a high-frequency trader insisting their client was doing nothing illegal or out of the ordinary by canceling large orders of commodities futures before they could be purchased.

  8. October 15, 2015

    Gov. Wants Trader's Jury Instructions Tossed In Spoofing Case

    Federal prosecutors on Wednesday urged an Illinois federal judge to reject jury instructions submitted by a high-frequency trader indicted for "spoofing" and commodities fraud, saying the trader is trying to reopen issues the court has already decided.

  9. October 06, 2015

    High-Speed Trader Wants Evidence Barred In Spoofing Case

    A high-frequency trader indicted for "spoofing" and commodities fraud urged an Illinois federal court Monday to exclude evidence of prior settlements with regulatory bodies and references to events like the 2008 financial crisis, saying such evidence is inadmissible, unfairly prejudicial or irrelevant.

  10. April 17, 2015

    High-Frequency Trader Must Face 'Spoofing' Charges

    An Illinois federal judge on Thursday denied a motion to dismiss "spoofing" claims against a high-frequency commodities futures trader, saying the market veteran's intent to cancel the large-volume orders he placed distinguished his trade strategy from other lawful trading practices.

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