DoJ Precious Metals Trader Spoofing

On Aug. 21, DoJ announced precious metals trader pleaded guilty.

  • Trader, Christian Trunz, pleaded guilty to conspiracy and spoofing charges.

Spoofing Activity

  • 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.

Ongoing Investigation

  • This case is the result of an ongoing investigation by the FBI’s New York Field Office.