Bloomberg

Deutsche Bank spoofer says his bosses showed him how

An employee arranges one kilogram gold bars at the Perth Mint Refinery in Perth, Australia, on Aug. 9, 2018. Foto: Bloomberg/Carla Gottgens

Former Deutsche Bank analyst David Liew told a Chicago jury he learned how to manipulate gold and silver prices from the two successful senior traders he admired and worked with for about three years.

Liew said he wanted to be a team player and make money after joining the bank's Singapore office, so he began doing "spoof" trades the way he was taught by Cedric Chanu and James Vorley. The senior traders often placed buy and sell orders they never intended to execute, a strategy intended to influence prices so they could reap illegal profits, Liew said...

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