Banking Law

Metals Trader Says Deutsche Bank Used Him as Spoofing Scapegoat

Jan. 13, 2020, 9:59 PM

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.

The trial judge should bar prosecutors from using that statement against him because it was obtained under duress, Vorley said....

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