Guilty Verdicts For 8 Chicago Traders
The government's investigation of fraud in the Chicago futures markets has gotten a much-needed boost. On Jan. 9, a federal jury convicted eight Chicago Board of Trade soybean traders of racketeering conspiracy. It returned guilty verdicts on all but 60 of 406 counts of wire fraud, mail fraud, and commodities-exchange act violations. The victory gives momentum to a government case that flagged in July when a jury rejected racketeering charges against three currency traders.