JPMorgan Gold Trader Says Boss Coached Him on Spoofing Lie (1)

A former JPMorgan Chase & Co. precious-metals trader said his boss coached him to lie to compliance officials about price-manipulating orders and later counseled him against pleading guilty as prosecutors were preparing criminal charges against top executives on the trading desk.

Christian Trunz, who spent more than a decade at JPMorgan, told a Chicago jury that so-called spoof orders he’d placed and quickly canceled in platinum and palladium markets had sparked a four-month probe by bank officials. Trunz said Michael Nowak, the managing director who ran the precious-metals business, advised him to mislead investigators about his intent to ...