Ex-Deutsche Traders Say Gov't Didn't Prove Spoofing Fraud

Law360 (November 16, 2020, 4:29 PM EST) -- Two former Deutsche Bank traders who were convicted of wire fraud have asked an Illinois federal judge for a new trial over charges that they spoofed the precious metals market, arguing prosecutors didn't present enough evidence to prove their case.

Ex-traders James Vorley and Cedric Chanu argued Friday that the U.S. government's use of unsupported summary charts and an unhelpful cooperating witness during their trial failed to prove beyond a reasonable doubt that they intended to defraud other market participants during each of the instances in which a jury found that their trades constituted wire fraud.

Despite the government's failure at...

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