FBI Agent Defends Abilities at Spotting Illegal Trades at Commodity Exchange

From Associated Press

An undercover FBI agent told jurors Thursday that he traded thousands of commodities contracts for customers while secretely recording pit traders’ conversations during an unprecedented sting operation.

FBI Agent Randall Jannett took the witness stand to defend his ability to spot illegal trading during a wide-ranging federal probe of corruption at the Chicago Mercantile Exchange and the Chicago Board of Trade.

Jannett and another FBI agent, posing as inexperienced commodities traders investing family money, passed all the tests required to trade on the exchange floor. They bought seats on the exchange.