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Second Former Deutsche Bank Commodities Trader Sentenced to Prison for Fraud Scheme Published: 04 July 2021 04 July 2021 New York - A former commodities trader was sentenced Monday to 12 months and a day in prison for a scheme to commit wire fraud affecting a financial institution. Cedric Chanu, 42, of France and the United Arab Emirates, was convicted by a federal jury on Sept. 25, 2020. Based on the evidence presented at trial, Chanu, who was employed as a precious metals trader at Deutsche Bank in Singapore and, later in London, engaged in a scheme to defraud other traders on the Commodity Exchange Inc., which was a public exchange. The defendant, together with James Vorley and other Deutsche Bank traders, defrauded other market participants through a deceptive trading practice known as “spoofing.” Specifically, Chanu placed fraudulent orders that he did not intend to execute in order to create the false appearance of supply and demand and to induce other traders to tra

New yorkUnited statesUnited arab emiratesCity ofUnited kingdomCedric chanuRavi perryBrian youngNicholasl mcquaidWilliamf sweeney jrLeslies garthwaiteJames vorleyCommodity exchange incJustice department criminal divisionDivision fraud sectionYork field office