David Liew is a former Deutsche Bank trader who pleaded guilty to conspiring to manipulate futures contracts in precious metals while working for the bank. He acknowledged spoofing and front-running customers' order and is now cooperating with prosecutors.
It was the first criminal spoofing case that involved allegations of coordinated spoofing. Liew admitted to conspiring with other precious metal traders to engage in spoofing on hundreds of occasions from December 2009 to February 2012. Liew’s co-conspirators are have not been unidentified.
The Justice Department and the Commodity Futures Trading Commission banned him from trading in markets the agency oversees.
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