Trader To Pay $3.6M For Defrauding His Boss

Law360, New York (July 12, 2007, 12:00 AM EDT) -- A former telephone clerk at a floor trading company will have to pay back $3.6 million to his employer for allegedly assigning losing trades of natural gas futures contracts to his boss' account and causing him to lose millions of dollars.

Matthew Doyle was also ordered on Wednesday to pay $130,000 in civil fines and was banned from ever trading and any commodity or registering with the U.S. Commodity Futures Trading Commission again.

The CFTC sued Doyle last August in the U.S. District Court in Manhattan,...
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