Cedric Chanu and James Vorley stand as former precious metals traders of Deutsche Bank. However, these two have been accused of conducting spoofing activities. In recent times, the pair have sought to dismiss the indictment within the criminal proceedings against them.
Through a motion Chanu and Vorley had submitted on the 20th of May, 2020, the two claimed that the case had been subject to “repeated and inexcusable delays.” According to the filing, these delays stand in disregard for the public and the defendants’ interests to speed the trial up as much as possible.
Refusal Of Discussions Claimed
The former traders have cited both the Sixth Amendment as well as the Speedy Trial Act to help justify the dismissal of the superseding indictment. It should be noted that this filing was submitted at the Illinois Northern District Court.
According to the two defendants, one of the delays violated the Speedy Trials Act. Notably, a delay of 189 days of the non-excludable time that had elapsed while the motion for dismissal the two defendants had filed was still pending. Once it was determined that there was a violation in the Speedy Trial Act, the defense counsel for the Defendants had contacted the government.
From there, it requested an opportunity to discuss this issue in detail and potentially avoid overburdening the Court through the various unnecessary motion practices within the COVID-19 pandemic crisis. The government, in turn, had refused to give this issue discussion.
Defendants Wished Trial To End In 2018
Alongside the Speedy Trial Act violations, other delays were cited. This includes the delay that the government enacted on the arrangements of the defendants. This was done in order to avoid reliance on the tolling order of the subject. This tolling order was allegedly neglected, while the motion of dismissal was still pending by the defendants.
After it decided to supersede the indictment in late 2019 and specify a new universe of trading sequences, led to the case being delayed to late 2020, if not later. According to Chanu and Vorley, however, this case should have been tried all the way back in 2018.
Citing Sixth Amendment
According to the Defendants, these delays have amounted to the violation of their Sixth Amendment rights.
The defendants, in this case, Cedric Chanu and James Vorley, stand as former precious metals traders at Deutsche Bank. The official indictment alleged that both parties engaged in a scheme to defraud traders on the Commodity Exchange Inc (COMEX). According to the indictment, this occurred from December 2009 to November 2011, and involved interstate wire communications.