A former JPMorgan gold trader was sentenced to serve six months in prison on Friday. A Chicago judge handed down the sentence in relation to the placement of deceptive orders between 2008 and 2010.
As background, poofing involves placing large buy or sell orders with no intention of executing them. These orders are quickly canceled but not before they create a false impression of market demand (or supply), influencing prices.
Bloomberg had the report, gated. Link here if you can access it.
