(Wall Street Journal) A Chicago jury found a New Jersey-based commodities trader guilty of 12 counts of fraud and manipulating the futures market on Tuesday in a major win for government prosecutors seeking to crack down on illegal trading tactics….Michael Coscia, head of a high-frequency trading firm called Panther Energy Trading LLC, had argued in court this week that his trading was genuine and not meant to improperly influence the price of futures contracts on the Chicago Mercantile Exchange….Coscia faces up to 25 years in prison with sentencing scheduled for March….
Commodities Trader Found Guilty in ‘Spoofing’ Case
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