Ex-Trader Pleads Guilty In $141M MF Global Loss Case

Law360, Chicago (December 11, 2012, 5:08 PM EST) -- A Mississippi man pled guilty to commodities trading violations Tuesday in connection with causing his former clearing firm, now-bankrupt MF Global Inc., $141 million in losses in 2008 by making large trades on wheat futures contracts knowing he couldn't pay potential losses.

Evan Brent Dooley, 44, copped to two counts of exceeding speculative position limits in violation of the Commodity Exchange Act under a plea agreement he entered with prosecutors in Illinois federal court. He faces up to 10 years in prison as well as restitution...
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