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Ex-UBS metals trader beats spoofing conspiracy charge

Section: Daily Dispatches

By Christie Smythe
Bloomberg News
Wednesday, April 25, 2018

If anything is more precious than gold, it might be an acquittal.

A former UBS Group AG precious metals trader was found not guilty on Wednesday of scheming to manipulate futures markets through a practice known as spoofing.

Andre Flotron, 54, was cleared by a federal jury in New Haven, Connecticut, of a single count of conspiracy to engage in commodities fraud. It was the first acquital in a spoofing-related case. He could have faced as long as 25 years in prison if convicted.

"We're extremely pleased with the jury's verdict," Flotron's defense attorney Marc Mukasey said. "Justice has been done." ...

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