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Former UBS gold trader charged with spoofing

First Published 21st September 2017

The US Department of Justice has charged Andre Flotron for spoofing gold futures

Andre Flotron, formerly a senior precious metals trader with UBS, was arrested in New Jersey last week by the US Department of Justice (DoJ). The DoJ has charged Flotron with spoofing gold futures on the CME (COMEX) from July 2008 until November 2013.

A junior trader, who agreed to cooperate with the US government in return for avoiding criminal prosecution, told the DoJ that Flotron demonstrated how to spoof gold futures in July 2008 as preparation for the witness moving to the UBS precious metals desk in Singapore.

Flotron's prosecution follows that of David Liew, a junior precious metals trader at Deutsche Bank, who was
permanently banned from trading in CFTC-regulated markets in June of this year for spoofing gold, silver, platinum and palladium futures.