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Wednesday, September 13, 2017

Former UBS Trader Arrested, Charged With Rigging Gold Prices

A former trader at UBS Group AG was charged with conspiracy and fraud over his suspected role in manipulating the price of precious metals.
Andre 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 Connecticut.
Flotron appeared in federal court in Newark, New Jersey, on Wednesday with his attorney, Marc Mukasey.

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