Closed Criminal Division Cases

United States v. Andre Flotron
Court Docket No.: 3:17-cr-00220-JAM (D. Conn.)

Court Assigned: This case is assigned to the Honorable Jeffrey A. Meyer, U.S. District Court for the District of Connecticut, Richard C. Lee U.S. Courthouse, 141 Church Street, New Haven, Connecticut, 06510.


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Criminal Charges: On January 30, 2018, Andre Flotron, 53, a Swiss national currently residing in Wayne, New Jersey, was charged in a superseding indictment with conspiracy to commit spoofing, three counts of commodities fraud, and three counts of wire fraud when he was a UBS AG precious metals trader at UBS’s trading desks in Stamford, Connecticut and Zurich, Switzerland.  Floton was a senior trader on UBS’s precious metals trading desk from July 2008 through January 2014.  He allegedly engaged in a form of commodities fraud and market manipulation known as “spoofing,” whereby he placed orders for precious metals futures contracts with the intent that they not be executed, for the purpose of creating the false impression of supply or demand, and thereby manipulating the prices of futures contracts.  In addition, Flotron allegedly Flotron trained and instructed another UBS trader in the practice of using spoof orders.

Previously, Flotron was indicted on September 26, 2017, with one count of conspiracy to commit offenses against the United States and charged by complaint on September 13, 2017, with conspiracy, wire fraud, commodities fraud, and spoofing.

For more information about the charges, please see below:
Complaint
Indictment
Superseding Indictment

Press Release - January 29, 2018

The information on this website will be updated as new developments arise in the case. If you have any questions, please call the Victim Assistance Line toll-free at (888) 549-3945 or email us at victimassistance.fraud@usdoj.gov.


Presumption of Innocence: It is important to keep in mind that defendants are presumed innocent until proven guilty and that presumption requires both the court and our office to take certain steps to ensure that justice is served.

Crime Victims’ Rights Act and Right to Retain Counsel: The Crime Victims’ Rights Act (18 U.S.C. § 3771) applies only to victims of the counts charged in federal court, and thus individuals may not be able to exercise all of these rights if the crime of which the individual is a victim was not charged. Section 377I(c)(2) of this Act requires that we advise you that you have the right to retain counsel. Although the statute specifically sets forth your right to seek advice of an attorney with regard to your rights under the statute, there is no requirement that you retain counsel. The Government may not recommend any specific counsel, nor can the Government (or the Court) pay for counsel to represent you. Government attorneys represent the United States.

If you elect to obtain counsel to represent your interests, please have your attorney notify this office in writing at: U.S. Department of Justice, Criminal Division, Fraud Section, 10th & Constitution Avenue, NW, Bond Building, 4th Floor, Washington, DC 20530, Attention: Victim Witness Unit; fax: (202) 514-3708; or email: victimassistance.fraud@usdoj.gov. If you elect not to retain counsel to represent your interests, you do not need to do anything.

Plea Agreements: Please be aware that many criminal cases are resolved by plea agreement between the Department of Justice and the defendant. You should also know that it is not unusual for a defendant to seek to negotiate a plea agreement shortly before trial is scheduled to begin. Plea agreements can be made at any time and as late as the morning of trial, leaving little or no opportunity to provide notice to you of the date and time of the plea hearing. If the court schedules a plea hearing in this case, we will use our best efforts to notify you of available information as soon as practicable. If you want to inform the prosecutor of your views regarding potential plea agreements, or any other aspect of the case, please contact the prosecutor assigned to this case or call the Victim Assistance Line toll-free at (888) 549-3945 or email us at victimassistance.fraud@usdoj.gov.

Updated May 22, 2018

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