Michael Coscia was charged with developing and implementing a high-frequency trad-ing strategy that allowed him to enter and cancel large-volume orders in a matter of milliseconds. This strategy moved prices in the market in such a way that Coscia was able to purchase contracts at lower prices, or sell contracts at higher prices, than the prices available in the market before the large-volume orders were entered and can-celed. Coscia would then repeat his strategy in the opposite direction, reselling the low-price contracts he purchased at a high price, or buying back the high-price contracts he sold at a low price. The government alleges that Coscia implemented his strategy to create a false impression regarding the number of contracts available in the market and to fraudulently induce other market participants to react to the deceptive market infor-mation that he created. Coscia reaped approximately $1.5 million in profits as a result of the alleged scheme. Has Coscia violated the law? Explain