Rogue Goldman Trader Should Pay Back $118M, Feds Say

Law360, New York (December 3, 2013, 5:15 PM EST) -- Federal prosecutors on Monday told a New York federal judge that a former Goldman Sachs Group Inc. trader who pled guilty to fraudulently building an $8.3 billion futures position should get up to 41 months in prison and be forced to pay back the $118 million his trades cost Goldman.

Matthew Taylor pled guilty in April to one count of wire fraud for making unauthorized risky trades and lying about it to his supervisors. Federal prosecutors said the fraud exposed Goldman to “tremendous market risk and...
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