Blog Posts Tagged With Spoofing Task Force

In re Hard Eight Futures, LLC (A.P. Sept. 30, 2019, Settled); In re Igor Chernomzav (Sept. 30, 2019, Settled)

Actions against Respondents, a trading firm and its principal, for alleged spoofing.  According to the CFTC, Respondents placed orders for E-mini futures contracts with the intent to cancel them before execution to manipulate prices.  Respondent trading firm has agreed to pay a civil penalty of $1,750,000.  Respondent principal has agreed to pay a civil penalty of $750,000 and to a nine-month trading bar.

CFTC Press Release

CFTC Order (Hard Eight)

CFTC Order (Chernomzav)
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In re John Lawrence (A.P. Sept. 16, 2019, Settled); In re Heraeus Metals New York LLC (A.P. Sept. 16, 2019, Settled)

Actions against Respondents, a commodities trader and his employer, for alleged spoofing. According to the CFTC, Respondent placed orders for precious metals futures contracts with the intent to cancel them before execution to manipulate prices and encourage execution of orders Respondent wanted filled. Respondent trader has agreed to a four-month trading bar and to pay a $130,000 civil monetary penalty, and Respondent employer has agreed to pay a $900,000 civil monetary penalty.

CFTC Order (Trader)
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In re Christian Trunz (A.P. Sept. 16, 2019, Settled)

Action against Respondent, a precious metals trader, for alleged spoofing. According to the CFTC, Respondent placed orders for precious metals futures contracts with the intent to cancel them before execution to manipulate prices.  The CFTC has reserved decision on sanctions against Respondent pending fulfillment of his cooperation agreement with the CFTC. Respondent previously pleaded guilty in a parallel criminal action in the Eastern District of New York.

CFTC Order

CFTC Press Release
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In re Christian Trunz (A.P. Sept. 16, 2019, Settled)

Action against Respondent, a precious metals trader, for alleged spoofing.  According to the CFTC, Respondent placed orders for precious metals futures contracts with the intent to cancel them before execution to manipulate prices.  The CFTC has reserved decision on sanctions against Respondent pending fulfillment of his cooperation agreement with the CFTC. Respondent previously pleaded guilty in a parallel criminal action in the Eastern District of New York.

CFTC Order 

CFTC Press Release
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CFTC v. Michael Nowak and Gregg Smith (N.D. Ill. Sept. 16, 2019, Contested)

Action against Defendants, two traders at a bank, for alleged spoofing.  According to the CFTC, Defendants placed orders for precious metals futures contracts with the intent to cancel them before execution to manipulate prices and encourage execution of orders Defendants wanted filled.  A parallel criminal action has been brought against Defendants in the Northern District of Illinois.

CFTC Complaint 

CFTC Press Release
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CFTC v. Michael Nowak and Gregg Smith (N.D. Ill. Sept. 16, 2019, Contested)

Action against Defendants, two traders at a bank, for alleged spoofing. According to the CFTC, Defendants placed orders for precious metals futures contracts with the intent to cancel them before execution to manipulate prices and encourage execution of orders Defendants wanted filled.  A parallel criminal action has been brought against Defendants in the Northern District of Illinois.

CFTC Complaint

CFTC Press Release
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In re John Lawrence (A.P. Sept. 16, 2019, Settled); In re Heraeus Metals New York LLC (A.P. Sept. 16, 2019, Settled)

Actions against Respondents, a commodities trader and his employer, for alleged spoofing. According to the CFTC, Respondent placed orders for precious metals futures contracts with the intent to cancel them before execution to manipulate prices and encourage execution of orders Respondent wanted filled. Respondent trader has agreed to a four-month trading bar and to pay a $130,000 civil monetary penalty, and Respondent employer has agreed to pay a $900,000 civil monetary penalty.

CFTC Order Trader
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