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USA v. Bases et al

  1. March 04, 2024

    Justices Won't Review Ex-Merrill Lynch Traders' Fraud Case

    The U.S. Supreme Court said Monday it will not take up an appeal from two former Merrill Lynch traders who were convicted in Chicago federal court of spoofing the precious metals market.

  2. October 23, 2023

    7th Circ. Backs Ex-Merrill Lynch Reps' Spoofing Convictions

    The Seventh Circuit upheld Monday wire fraud conspiracy convictions of two former Merrill Lynch traders found guilty of spoofing the precious metals markets, rejecting their arguments their conduct occurred almost entirely before it was prohibited by the Dodd-Frank Act.

  3. June 22, 2023

    Merrill Lynch Traders Denied Bail Amid Fraud Appeal

    Two former Merrill Lynch traders convicted of scheming to place false orders on gold and silver futures must begin their sentences as scheduled, after a federal judge in Illinois on Thursday rejected their request to remain out on bail pending their appeals.

  4. March 10, 2023

    Merrill Lynch Fraudsters Each Get 1 Year In Prison

    Two former Merrill Lynch traders convicted of a scheme to submit thousands of false orders on gold and silver futures have each been sentenced by a Seventh Circuit judge to a year in prison.

  5. March 07, 2023

    Ex-Merrill Lynch Traders Face 4 Years Under Fraud Guidelines

    An Illinois federal judge has ruled that two former Merrill Lynch traders convicted of a spoofing scheme involving precious metals futures each face 37 to 46 months in prison under nonbinding sentencing guidelines.

  6. January 09, 2023

    Feds Want 2 Years For Each Convicted Merrill Lynch Fraudster

    Two former Merrill Lynch traders should each serve two years in prison for the "brazenness" of their scheme to submit thousands of false orders on gold and silver futures, federal prosecutors said.

  7. August 22, 2022

    Ex-Merrill Lynch Traders' Market Fraud Convictions Stick

    An Illinois federal judge refused Monday to disturb two former Merrill Lynch traders' convictions for manipulating the precious metals market, saying the evidence at trial supported the jury's conclusion the traders used fraudulent orders to execute genuine ones at better prices.

  8. August 04, 2021

    Ex-Merrill Lynch Traders Convicted Of Manipulating Market

    An Illinois federal jury on Wednesday convicted two former Merrill Lynch traders on charges that they fraudulently manipulated the precious metals market with false orders that faked the impression of supply and demand so they could execute genuine orders at more favorable prices.

  9. August 02, 2021

    Traders Urge Ill. Jury To Reject Feds' Market Spoofing Claims

    Two former Merrill Lynch traders urged an Illinois federal jury Monday to clear them of prosecutors' charges that they used fake orders for precious metals to manipulate the commodities market in their favor, arguing the government's case is flawed.

  10. July 20, 2021

    Traders Spoofed Market To 'Rip Off' Others, Ill. Jury Hears

    Two former Merrill Lynch traders manipulated the precious metals market using a scheme to fake the impression of market supply and demand to execute genuine trades at more favorable prices and "rip off" other traders in the market, prosecutors told an Illinois federal jury as a trial opened Tuesday.

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