A former trader at UBS Group AG was charged with conspiracy and fraud over his suspected role in manipulating the price of precious metals.
Flotron, who worked at the bank in Switzerland and in Stamford,
Connecticut, is the second person publicly charged in the U.S.
investigation into the fixing of gold, silver, platinum and palladium
prices. Flotron, a Swiss resident, was arrested during a visit to New
Jersey. He was charged with conspiracy, wire fraud, commodities fraud
and spoofing, according to a complaint filed in federal court in
Flotron appeared in federal court in Newark, New Jersey, on Wednesday with his attorney, Marc Mukasey.