World Series of Poker Player Charged With Spoofing Gold Market
(Bloomberg) — A Nevada metals trader with a side gig on the world poker circuit was charged Friday with manipulating gold and silver markets using a technique called spoofing.
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The Commodity Futures Trading Commission alleges that Daniel Shak, who also runs a small hedge fund, repeatedly placed orders for gold and silver futures contracts with the intent to cancel the bids or offers before execution. Called spoofing, the practice gained notoriety following a…