Ex-Bond Trader Faces Up To 20 Years For $9M Scheme

Law360, New York (April 7, 2011, 6:25 PM EDT) -- A former bond trader faces up to 20 years in prison after he pled guilty Thursday to running a $9 million scheme to hide losses in collateralized mortgage obligation.

According to a criminal information filed in the U.S. District Court for the District of New Jersey, Douglas Green, 47, entered into fraudulent trades designed to inflate the price of his flagging CMO bond portfolio in a scheme that ran from around May 2004 until July 2008.

Sentencing for Green, who pled guilty to one count of...
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