Wednesday, April 3, 2013

Ex-Goldman Sachs Trader Said to Surrender to FBI

Former Goldman Sachs trader Matthew Taylor surrendered to the Federal Bureau of Investigation at about 8:30 a.m. this morning as part of a U.S. securities fraud investigation, a person familiar with the matter told Bloomberg.
Taylor is to appear in Manhattan federal court later today. He was accused Nov. 8 in a lawsuit by the U.S. Commodity Futures Trading Commission of concealing an $8.3 billion position in 2007 that caused New York-based Goldman Sachs to lose $118 million.

Morgan Stanley hired Taylor in March 2008 after Goldman Sachs fired him three months earlier. Goldman cited “alleged conduct related to inappropriately large proprietary futures positions in a firm trading account,” in a so-called U-5 form, according to a Financial Industry Regulatory Authority document....

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