Article: Metals Trader Says Deutsche Bank Used Him as Spoofing Scapegoat

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Metals Trader Says Deutsche Bank Used Him as Spoofing Scapegoat

Janan Hanna

Bloomberg, 13 January 2020

A former Deutsche Bank AG precious-metals trader accused by the U.S. of manipulating commodity markets claims the bank used him as a scapegoat to curry favor with regulators investigating the company.

James Vorley, who is awaiting trial in Chicago, said in a court filing Friday that the bank was acting at the request of federal investigators when it conducted an internal investigation of possible unlawful trading, or spoofing, on its precious-metals desk and obtained a recorded statement from him.

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Article: Ex-Deutsche Bank Traders Must Face Spoofing Case, Judge Says

Article - Media

Ex-Deutsche Bank Traders Must Face Spoofing Case, Judge Says

Janan Hanna

Bloomberg, 21 October 2019

The criminal case against two former Deutsche Bank AG employees accused of fraudulent and manipulative precious-metals trading can proceed, after a federal judge on Monday rejected their request for dismissal.

U.S. District Judge John J. Tharp in Chicago said prosecutors had properly used the wire-fraud statute to charge James Vorley and Cedric Chanu with spoofing, part of an alleged multiyear scheme to defraud other traders on the Commodity Exchange Inc., a venue run by CME Group Inc.’s Chicago Mercantile Exchange.

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