Ex-Deutsche Bank ‘Spoof’ Trader Vorley Gets 1-Year Sentence
- Judge said he wanted to send message on market manipulation
- Co-defendant Cedric Chanu scheduled to be sentenced next week
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A former Deutsche Bank AG precious-metals trader was ordered to serve one year and a day in prison for manipulating gold and silver prices with bogus “spoof” trade orders between 2008 and 2013.
James Vorley, 41, who was convicted of fraud in September, harmed “the integrity of the financial markets,” U.S. District Judge John J. Tharp Jr. said Monday in Chicago. Vorley’s former co-worker, Cedric Chanu, is scheduled to be sentenced on June 28.