Ex-Colleague Says Deutsche Traders Taught Him To Spoof

Law360 (September 16, 2020, 11:10 PM EDT) -- A former Deutsche Bank trader testified Wednesday that he learned how to spoof the precious metals market from ex-colleagues James Vorley and Cedric Chanu, but that he didn't think the trading strategy violated any bank policy because it was never flagged as improper.

David Liew, who was a precious metals trader for Deutsche Bank between 2009 and 2012, testified in Vorley and Chanu's ongoing wire fraud trial that he learned how to spoof the market by observing and copying their trading conduct. He would also sometimes coordinate his trading with theirs to manipulate the market in directions that would maximize the...

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