In another spoofing case, the Commodity Futures Trading Commission charged a Nevada metals trader who has a lucrative poker side-gig with spoofing the gold and silver futures markets.
"By placing the spoof orders, Shak intentionally or recklessly sent false signals of increased supply or demand that were designed to trick market participants into executing against orders on the opposite side of the market, which he actually wanted filled," the CFTC said in a press release."Shak's spoof orders allowed him to fill orders on the opposite side of the market sooner, at a better price, and/or in larger quantities than they otherwise would have been filled.
This is not Shak's first run-in with the CFTC either. He settled back in March 2015 after being ordered not to trade during the closing minute of the gold futures markets.