Prosecutors ordered to give ex-Merrill traders information in spoofing case

Prosecutors ordered to give ex-Merrill traders information in spoofing case

A federal judge in Chicago has ordered prosecutors to hand over evidence from what he called their joint investigation with the U.S. Commodity Futures Trading Commission into commodities spoofing to a pair of former Merrill Lynch traders facing criminal charges.

U.S. District Judge John Lee on Wednesday rejected prosecutors’ argument that their probe into the manipulative trading tactic was independent from the CFTC’s. The order requires them to hand over the commission’s notes from the interviews and meetings with the banks it held jointly with the DOJ, as well as any CFTC data analyses that could be used to defend former traders John Pacilio, represented by Kobre & Kim, and Edward Bases, represented by Finn Dixon & Herling.

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