CHICAGO (AP) — A New Jersey high-frequency trader was accused of manipulating commodity prices by sending false signals to the market and then executing trades within milliseconds to make huge profits, prosecutors said Thursday, in what they described as a first-of-its-kind prosecution.

Michael Coscia, 52, was indicted for illegally earning around $1.5 million through the Chicago-based CME Group — the world’s largest operator of futures exchanges — and European futures markets in 2011. The U.S. attorney’s office in Chicago said it’s the first case under major changes to federal commodities law in 2010, when Congress enacted the Dodd-Frank Wall Street reforms after the financial crisis.