Supreme Court rejects appeals by ex-Deutsche Bank traders convicted of ‘spoofing’

Published by
Reuters

By John Kruzel (Reuters) – The U.S. Supreme Court on Monday turned away appeals by two former Deutsche Bank AG commodities traders convicted of manipulating precious metals prices by placing “spoof” orders. The court denied petitions by James Vorley and Cedric Chanu, who were each sentenced to just over a year in prison after being found guilty of wire fraud for spoofing, or placing orders with the intent to cancel them before trades are executed. The pair were convicted in 2020 for carrying out what prosecutors said was a yearslong spoofing scheme between 2008 and 2013. Their trades created a…

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