On Aug. 21, DoJ announced precious metals trader pleaded guilty.
- Trader, Christian Trunz, pleaded guilty to conspiracy and spoofing charges.
- Trunz was an executive director at a US bank; he was precious metals trader from Jul. 2007 to Aug. 2016, placing thousands of orders that he did not intend to execute.
- Orders were NYMEX, COMEX-traded gold, silver, platinum, palladium futures contracts.
- Trunz learned spoofing from more senior traders; supervisors knew and consented.
- This case is the result of an ongoing investigation by the FBI’s New York Field Office.