P.M. BRIEFING : 2 Traders Plead Guilty in Chicago
CHICAGO — Two traders from the Japanese yen futures pit at the Chicago Mercantile Exchange, already known to be cooperating with federal investigators probing Chicago’s futures markets, pleaded guilty today to government charges leveled last week.
Brothers Brian and James Sledz each pleaded guilty to one count of fraud and one count of violating the Commodity Exchange Act, according to the clerk for U.S. District Judge George Marovich.
They each face maximum prison terms of five years and fines of $250,000.
A total of 46 traders were indicted last week in the first round of charges stemming from a 2 1/2-year investigation of alleged trading pit abuses at the Chicago Board of Trade and the Chicago Mercantile Exchange.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
