Commodities trader pleads guilty to 'spoofing,' is cooperating with authorities

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From around December 2009 to February 2012, Liew conspired with other gold, silver, platinum and palladium traders to place hundreds of orders to buy or sell precious metals futures contracts that he intended to cancel and not to execute at the time he placed the orders, a practice known as spoofing, according to a plea agreement filed Thursday in U.S. District Court in Chicago.
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