Ex-UBS trader accused by U.S. of manipulating precious metals prices

Section:

The arraignment happened even as CPM Group Managing Director Jeffrey Christian was telling Kitco News that complaints of gold market manipulation are "nonsense."

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By Tom Schoenberg and David Voreacos
Bloomberg News
Wednesday, September 13, 2017

A former trader at UBS Group AG was charged today with conspiracy and fraud over his suspected role in manipulating the price of precious metals.

Andre Flotron, who worked at the bank in Switzerland and Stamford, Connecticut, is the second person publicly charged in the U.S. investigation into the fixing of gold, silver, platinum and palladium prices. Flotron, a Swiss citizen, was arrested while visiting his girlfriend in New Jersey. He was charged with conspiracy, wire fraud, commodities fraud, and spoofing. He faces as many as 25 years in prison on the most serious charge. ...

... For the remainder of the report:

https://www.bloomberg.com/news/articles/2017-09-13/ex-ubs-trader-accused...



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