Fraud, Trader | featured news

Ex-Goldman trader Taylor turns himself in to authorities: sources

Ex-Goldman Sachs Group Inc trader Matthew Marshall Taylor has turned himself in to federal authorities in connection with charges that he defrauded the Wall Street bank out of $118 million in 2007, two sources familiar with the matter said.

 

Ex-UBS trader Adoboli convicted of $2.3 billion fraud

Kweku Adoboli

Former UBS trader Kweku Adoboli was convicted on Tuesday of one count of fraud related to a loss of $2.3 billion.

 

Prison, $7 billion fine for French rogue trader

Rogue Trader

The Paris appeals court on Wednesday ordered former Societe Generale trader Jerome Kerviel to spend three years in prison and pay back a staggering (EURO)4.9 billion (about $7 billion) in damages for one of the biggest trading frauds in history....

 

Rogue trader suspected in $2 billion loss at UBS

Rogue trader suspected in $2 billion loss at UBS

Swiss banking giant UBS said Thursday that a rogue trader has caused it an estimated loss of $2 billion, stunning a beleaguered banking industry that has proven vulnerable to unauthorized trades. Police in London said they arrested a 31-year-old UBS trader, Kweku Adoboli, in the alleged fraud. UBS declined to confirm his name.

 

Britain to Tape Traders’ Cell Phones to Fight Fraud

New rules would oblige financial services firms to record relevant employee communications made on their work cell phones.

 

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