From: telecomdigestsubmissions@remove-this.telecom-digest.org   
      
   A federal jury convicted two men for engaging in a multi-year fraud   
   scheme to manipulate U.S. commodities markets for publicly traded   
   precious metals futures contracts.   
      
   According to court documents and evidence presented at trial, Edward   
   Bases, 59, of New Canaan, Connecticut, a former senior trader employed   
   at Deutsche Bank and Bank of America in New York, and John Pacilio,   
   57, of New York, New York, a former senior trader employed at Bank of   
   America and Morgan Stanley in New York, fraudulently pushed market   
   prices up or down by routinely placing large "spoof" orders in the   
   precious metals futures markets that they did not intend to   
   fill. Bases and Pacilio did so in order to manipulate prices for their   
   own gain and the banks' gain, and to defraud other traders on the   
   Commodity Exchange Inc. (COMEX) and the New York Mercantile Exchange   
   Inc. (NYMEX), both of which are exchanges run by the CME Group   
   Inc. (CME).   
      
   https://www.justice.gov/opa/pr/jury-convicts-two-former-wall-str   
   et-bank-traders-wire-fraud-0   
      
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