The Commodity Futures Trading Commission has accused an energy trading firm and its head trader of manipulating market prices of energy futures by placing and canceling hundreds of large contract orders as part of a “spoofing” scheme between January and April 2020.
Logista Advisors LLC and its founder and principal, Andrew Serotta, “sent false signals of increased buying or selling interest designed to trick other market participants into entering higher bids or lower offers,” according to the CFTC’s complaint filed in the US District Court for the Northern District of Illinois on Sept. 7. Serotta engaged in over 360 “Spoof ...
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