Former JPMorgan gold trader sentenced to 6 months in prison on spoofing charge

<p>A former JPMorgan gold trader was sentenced to serve six months in prison on Friday. A Chicago judge handed down the sentence in relation to the placement of deceptive orders between 2008 and 2010. </p><p>As background, poofing involves placing large buy or sell orders with no intention of executing them. These orders are quickly canceled but not before they create a false impression of market demand (or supply), influencing prices. </p><p>Bloomberg had the report, gated. Link <a href="https://www.bloomberg.com/news/articles/2023-09-15/ex-jpmorgan-gold-trader-jordan-gets-six-months-in-spoofing-case" target="_blank" rel="nofollow">here </a>if you can access it. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.