Precious metals spoofing allegations


CRA was retained by counsel to members of a precious metals trading desk as they faced charges including racketeering, conspiracy, spoofing, and attempted market manipulation from the US Department of Justice. The group of defendants were ultimately acquitted of the racketeering and conspiracy charges at trial. CRA supported counsel in three areas.

CRA teams provided consulting support in the analysis of precious metals futures market data and trader-specific data. A CRA team provided consulting from pre-indictment through post-trial motions for the joint defense group of defendants including Gregg Smith, Michael Nowak, Christopher Jordan, and Jeffrey Ruffo. A separate CRA team also supported CRA Senior Consultant and University of Wisconsin-Madison Emeritus Professor Mark Ready, who testified about certain aspects of defendant Jordan’s gold and silver futures trading. CRA consultants, Mukarram Attari and Aaron Dolgoff also provided declarations examining the analysis of the government’s expert witness during the sentencing phase for the spoofing and attempted market manipulation charges.

Meet our team