EX-UBS Trader Accused of Spoofing Arrested in New Jersey

[kreslik.news]

Former UBS commodities trader Andre Flotron is in trouble with US authorities. He was arrested while visiting his girlfriend in New Jersey in the latest case of spoofing on the CME Group’s commodities exchange.

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Flotron, 54, worked at the giant Swiss bank in Switzerland and Stamford. The Justice Department’s case accused him of manipulating precious metal prices by using fake orders to make it look as if there was genuine activity, an illegal practice called spoofing.

According to a ... (read more)