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CFTC Brings First Insider-Trading Case

Bruce Carton | December 11, 2015


Until last week, the CFTC had never brought an insider trading case for commodities trading. Indeed, the only example of insider commodities trading that most lawyers (or anyone else) could probably point to would be the ill-fated effort of the Duke brothers in the Eddie Murphy movie Trading Places.

In Trading Places, the theft of a confidential Department of Agriculture "crop report" helped Billy Ray Valentine (Eddie Murphy) and Louis Winthorpe III (Dan Aykroyd) successfully corner the orange juice futures market while simultaneously ruining the Duke brothers (who lost $394 million based on a...

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