Ex-Citibank Trader Pleads Guilty In Fraud Scheme

Law360, New York (September 26, 2006, 12:00 AM EDT) -- A former head of the commodities trading desk at Citibank N.A. pled guilty on Tuesday for his role in a scheme to inflate trading profits by $20 million.

David Becker pled guilty to a single count of conspiracy to falsify bank records and commit wire fraud, a crime punishable by up to five years in prison and a fine of $250,000.

Sentencing in the case is scheduled for January 26.

Prosecutors in the case accused Becker and a coconspirator whose identity remains confidential of overstating financial...
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