Former Addison commodities clerk sentenced in fraud
A former clerk at the Chicago Mercantile Exchange was sentenced to eight months in prison for a commodities fraud scheme that netted her more than $200,000.
Nicole M. Graziano, 33, of Addison, was convicted after a four-day bench trial in March of manipulating trading to her benefit and the detriment of clients where she worked. She was also fined $212,000, according to court records.
While working for a broker between September 2009 and August 2010, Graziano submitted nearly 90 fraudulent trade cards that resulted in a remarkable success rate of 90 to 100 percent. The federal judge who sentenced her said the scheme “damaged the legitimacy of the exchange itself.”
Graziano was facing a maximum of 10 years in prison.
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