JPMorgan metals trader pleads guilty to spoofing, resigns from bank [Reuters]
JP Morgan Chase & Co. (JPM)
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Source: Reuters
JPMorgan metals trader pleads guilty to spoofing, resigns from bank NEW YORK (Reuters) - A JPMorgan Chase & Co precious metals trader pleaded guilty to spoofing, or placing bogus trade offers, on Tuesday, when he also resigned as an executive director at the bank. The guilty plea and resignation of Christian Trunz, 34, of London, were announced by the U.S. Department of Justice. Trunz admitted in the federal court in Brooklyn, New York, to having from July 2007 to August 2016 at JPMorgan and another bank placed thousands of orders for gold, platinum and palladium futures contracts that he never intended to complete. While the Justice Department did not identify the banks by name in court papers, Trunz had worked for JPMorgan since at least 2008, according to the Financial Industry Regulatory Authority’s BrokerCheck database. Lawyers for Trunz did not immediately respond to requests for comment. A spokeswoman for JPMorgan declined to comment. Trunz’s plea followed a guilty plea to spoo
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