$141M MF Global Loss Gets Ex-Trader 5 Years In Prison

Law360, Chicago (April 16, 2013, 3:09 PM EDT) -- A former commodities trader was sentenced in Illinois federal court Tuesday to five years in prison on charges that he cost his former clearing firm, the now-bankrupt MF Global Inc., $141 million in 2008 by making large trades on wheat futures contracts knowing he couldn't pay potential losses.

U.S. District Judge Robert M. Dow Jr. rejected the bid by Evan Brent Dooley, 45, for a probationary sentence on the two counts of exceeding speculative position limits in violation of the Commodity Exchange Act that Dooley copped...
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