CFTC: fraud at Goldman Sachs caused $118 million loss
Accusations of fraud against a trader have parallels with Adoboli and Kerviel
A former trader at Goldman Sachs has been charged with fraud by the US Commodity Futures Trading Commission (CFTC).
Matthew Marshall Taylor, a former trader at Goldman Sachs in New York, is accused of concealing the size and the exposure associated with an S&P 500 e-mini futures contracts position. Taylor worked as a trader on the capital structure franchise trading desk.
A hidden long e-mini futures position of $8.3 billion in December 2007 resulted in realised losses of $118,440,000 once the
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