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ARTICLE · 02 NOVEMBER 2021

ABA Commodities Enforcement Panel Tackles Spoofing, Whistleblowers, And Crypto

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On the first day of the ABA's White Collar Crime Conference, Aitan Goelman moderated a panel with Avi Perry of the DOJ Criminal Division's Fraud Section, Manal Sultan of the CFTC, and private practitioners Christian Kemnitz and Anne Termine.

United StatesFinance and Banking
Andre Geverola
Andre Geverola
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On the first day of the ABA's White Collar Crime Conference, Aitan Goelman moderated a panel with Avi Perry of the DOJ Criminal Division's Fraud Section, Manal Sultan of the CFTC, and private practitioners Christian Kemnitz and Anne Termine.

The Fraud Section recently formed a unit to focus on fraud and spoofing in the commodities markets, which Perry leads. Perry explained that the unit isn't focused on "ticky-tack" cases, but instead aims for cases with real impact on victims or on the integrity of the market. Perry discussed lessons learned from past spoofing trials, including United States v. Flotron, which ended in an acquittal. As an example of such lessons, Perry noted the need to obtain greater corroboration of immunized witnesses' testimony as well as to take the necessary time to investigate complex cases.

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