As the trial of former JPMorgan traders accused of spoofing continues, Michael Nowak, Gregg Smith and Jeffrey Ruffo seek acquittal. On July 22, 2022, Nowak, Smith and Ruffo filed motions for judgments of acquittal with the Illinois Northern District Court. Back in 2019, the DOJ launched criminal proceedings against the former JPMorgan precious metals futures traders. The indictment alleges that the defendants engaged in widespread spoofing, market manipulation and fraud while working at JPMorgan through the placement of orders they intended to cancel before execution in an effort to create liquidity and drive prices ... (full story)