US high-frequency trader convicted in first US 'spoofing' case

Michael Coscia convicted of six counts of commodities fraud and six of ‘spoofing’ in first criminal prosecution of banned trading practiceA jury has convicted a high-frequency trader of commodities fraud and “spoofing”, in the US government’s first criminal prosecution of the banned trading practice.The verdict in the trial of Michael Coscia, owner of New Jersey-based Panther Energy Trading, may prompt prosecutors to pursue market manipulation cases and spur some hi