Ex-JPMorgan Metals Trader Trunz Pleads Guilty to Spoofing (2)

Aug. 20, 2019, 5:01 PMUpdated: Aug. 20, 2019, 9:11 PM

A former JPMorgan Chase & Co. metals trader pleaded guilty Aug. 20 to manipulating prices in the precious-metals market, as the U.S. continues to crack down on the bogus trades known as spoofing.

Christiaan Trunz admitted during a hearing in federal court in Brooklyn that he placed and then canceled thousands of orders for futures contracts for gold, silver, platinum and palladium while he worked at Bear Stearns and JPMorgan from 2007 to 2016. He pleaded guilty in connection with a specific spoofing incident in June 2016.

Trunz faces a prison term of as long as 135 months when U.S. ...

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