James Vorley found guilty of manipulating gold and sliver prices with bogus trade orders
London — ¯A former Deutsche Bank precious-metals trader was ordered to serve one year and a day in prison for manipulating gold and silver prices with bogus “spoof” trade orders between 2008 and 2013.
Citing more than $1m in losses by other traders and thousands of trades by Vorley and Chanu, the judge said he wanted to send a message that there are consequences for market manipulation. “A serious offence is worth a serious sentence,” he said. Vorley told the judge he was remorseful and that since he was charged, life had been hard for him and his family. The judge rejected a request by Vorley’s lawyer that the sentence be served in home confinement in London, where the former trader lives.
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