18 July 2016

Coscia gets three-year prison sentence for spoofing

On July 13, convicted commodities trader Michael Coscia was sentenced to three years in prison and two years of supervised release for spoofing and commodities fraud.  In November 2015, a jury convicted Coscia on six counts of commodities fraud and six counts of spoofing, and Coscia faced a maximum sentence of 25 years in prison and a $250,000 fine for each count of commodities fraud, and a maximum sentence of 10 years in prison and a $1 million fine for each count of spoofing.

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